It would be nice to be able to disable the panic some way - like the other programmable options.

I can think of two ways of disabling it:

Take the key apart and remove the panic switch off of the PCB with a soldering iron.

or

Take the key apart and glue the button. That way it cannot be pressed.

There might be a way of cutting a wire on the receiver or something, but I'll have to check the service manual later for that.