The current setup I have is relatively simple, using an Omron E2E M5 Proximity sensor and a VCC LTH5MM15VFR4500 led. This allows the small current output from the sensor to illuminate the led. The Triumph triples use a similar setup where they used the same mechanical switch as the MK3, though the kit is available from Greece, it uses a relay to illuminate the neutral lamp.
The temporary adaptor I made is a modern cut down Lucas switch which is drilled and then tapped M5 fine (0.5mm pitch) and sealed in the original thread in the gearbox with adhesive sealant. The sensor is then set to the button on the camplate by screwing in gently until it stops and then turn it our one turn. The sensor range is 0.8 – 1.2mm so the thread pitch can be used to set the distance, a bit tricky when the gearbox is in place but a doodle when I did it on my desk. For the MK3 there is no need to modify the camplate unless the existing button is very worn, mine is and it still works and this was part of my test plan to use it against a worn camplate button.