It just so happens that I collect Swiss Army Knives. Though I've never tried to take out serrations myself, a lot of people know how to do it at a website I go to very often.

www.sosakonline.com

You could maybe get in touch with someone there and they would point you in the right direction. I've seen other people remove serrations on SAK's there and they look just fine, and from what they tell us on the forums they work very well and hold the edge.