Honestly, I think outlining boxes and Urns by itself would be plenty. It would be a decent way of keeping track of people through walls and also help you save a hell of a lot of time. Add in that it highlights Neutral Creeps and Sinner's Sacrifice Machines while you're at it and you have a very effective tool for saving you time in the jungle. I'd even go so far as to increase the range of the highlighting effect out to 50m, though I would exclude pinging enemies. That would have the additional side effect of ruining stealth/invisibility which I don't think is something you really want to do, long term.
As for improving the Weapon damage and Bullet resist vs. NPCs, I would probably leave those 2 stats untouched from the Component Monster Rounds. They are 2 of the strongest reasons why Monster Rounds is considered so strong and opening up increased value on them is dangerous.
I would add a Spirit Resist vs. NPCs that matches the Bullet Resist, though. Walker lasers, Patron Laser, and Weakened Patron Pulse all deal Spirit damage and would be good to have some bonus resist to them. It might even work on Mcginnis Turrets.
With the added Spirit resist, the bonus base stats/health/regen and the ability to track breakables in a fairly large range, the upgrade would be very useful, even if not always necessary which is exactly where a well designed item would be at.
