Probably all possible, but not worth the time or effort over what would be gained. It runs windows ce embedded is my understanding, so I doubt Android or Linux is going to run on what ever processor they have easily, maybe a pxa300 chipset.
Here is an older thread, specs might be better now
http://www.explorerforum.com/forums/showthread.php?t=366952
If I was able to get Android 4.4 on my old HTC HD2 Windows Mobile 6.5 phone, Android can run on our MFT's.
That said, our MFT's don't use any run of the mill System-On-A-Chip hardware. They use an SOC designed for the automotive industry with an encrypted bootloader that will only load signed software. A lot of research and design went into ensuring that once the SOC system was switch from program mode to run mode, it can't be switched back.
So, to get a new system on our MFT easily, the private key needs to be cracked. The hard way is to find an exploit that causes the system to load unsigned software, which hasn't been found yet.
Progress so far includes ability to push configuration changes for parameters that were designed to accept changes through the cars CAN BUS network.
Reality is that the hardware specs are so old, it's probably better to engineer/build a brand new system to replace the APIM. Replacement of the MFT Touchscreen may or may not be necessary. It works, but uses proprietary connections.
Profitability of such a venture dependent on the number of vehicles on the road with MFT, then by the number of those vehicle owners willing to pay for a replacement/upgrade.
With Android Auto and Apple Car Play on the scene, development costs of a replacement may have gone down, but the replacement would still have to do everything the MFT does...for ALL models. This includes the environmental controls, accent lighting, sending required info to the dashboard/console screens, etc...
Personally, I keep hoping that the 2012/2013 focuses with MFT become cheap enough that some MIT/Caltech/... students pick up a couple and take on the challenge of getting the MFT to load Android Auto. Not for the money, but for the challenge of it.