Though I'm not familiar with it, there is firmware for the panelview for Modbus Ethernet. There is also firmware for GE Ethernet, GE Ethernet Global, GE SNP, and GE SNPX. Unfortunately I'm not at all familiar with any of these protocols and couldn't tell you if any of them fit your description.
The next problem I have is the FactoryTalk View (The new version of RS View) won't configure communications through any server but RSLinx, and these other protocols are for the KEPServer configuration (at least I think that's it.) From what the Panelview that I'm attempting to test on is telling me, the KepServer firmware isn't supported except for DH+ and DHRIO. It's not working on the 2711P-RP1A G Logic Module, and that has serial and ethernet communications in it.
And you are correct in assuming that the plc has an IC697CMM742 ethernet module, we were actually going to add one solely for this upgrade.
Do you know much about the Allen Bradley end of this? It seems that I'll have more problems with it on this side than on the GE side.