while it seems to be possible in theory, AFAIK no one has extracted the data available into a useable form.
I have been a big supporter of this idea through the life of IL2 and and would love to be able to use this with CoD- infact I would make gauge sets for all aircraft if there was the coding/application to do so.
I have looked at the coding needed (as a coding noob

) and to be honest the extraction of the data doesn't seem to be much of a problem, it's the ordering and outputting the data in a useable format that is the problem- in that it requires coding way above my abilities.
I would also prefer it to be an 'official' upgrade to ease the concerns from the 'purity of online experience' crowd, many of whom were 'somewhat anti'

this idea in IL2
On a side note, using a second monitor on the main gaming machine was usually a problem with Il2- using a separate computer on a network to drive the gauges was a much better way of doing things (afaik this is due to udpspeed- the program most used in IL2- being a '2D' program and as such causes fps drops when running in conjunction with a '3D' program- the game.)