The circuit could be modified for use with a GBC/MGB, I'm pretty sure. I personally would have done the circuit a little differently. It now connects just to the battery terminals. I would have used three terminals, ground, regulated +5V Vcc and the sense voltage. The sense voltage trigger point could then be set to something suitable for either a DMG or a GBC/MGB (something using only two 1.5 V batteries).
The problem then becomes fitting the board inside a GBC/MGB. And speaking of that, unless that board is single-sided, it could be made more space-efficient by placing components on both sides of the board. Though that might be problematic when you're going to mount it, but yeah, might be beneficial for the smaller 'boys. But this is just turning into a technical review of the batt_dmg.
You could likely not use an indicator from a GBA SP, as it's probably made using a Li ion battery charging chip which has an internal voltage reference made for that battery chemistry. This mean the threshold for a low voltage is likely set higher than the voltage of two AA/AAA, ie two AA/AAA will always detect as being low. Not to mention that it's easier to design a simple circuit from scratch than it is to reverse engineer the GBA SP's.
Same with the GBA's, which is using AA batteries, but the indicator circuit is likely integrated into the voltage converter.