I've been lusting for a scroll mod, too! But since there is no scroll function built in, I think the best option is to just start from scratch with a teensy controller and a separate optical sensor. For scrolling, I have two ideas I've been fantasizing about:
1) Joystick mod! - Dedicated joystick to handle vertical and horizontal scrolling seamlessly. This would be awesome for games with minimaps or even productivity apps that need a lot of scrolling like photoshop. Ordered some joysticks from sparkfun to play with, will try it out with the teensy.
2) Just implement scroll into the ball itself - also with teensy. The Logitech SetPoint software comes close with the universal scroll option, but it is not universal at all! It only works for the system explorer and SOME applications, thankfully chrome, but most others no, including games. Really bugs me, so if there was a button I could toggle the mouse sensor into a true scroll sensor, that would be a simple clean mod.
The key is to have side scroll too, but I don't know how to accomplish that on the teensy. There's no documentation on how to do it. I think it just requires some modification of the raw hid code. No idea where to start so if someone could help me figure it out, that would be great.