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Is there a way via SuiteScript to reallocate committed inventory directly from one Sales Order to another?

Commitment engine is also not scriptable lol, its really not fun to work with.

last time I worked with it I ended up with an insane recursive un-commit/re-commit map/reduce

Turn off auto commitment, control commitment via script is your insane possibility

Best I can come up with is do a search of SOs in the child SO location, un-commit the parent SO, commit the child SO, if inventory is insufficient run the search again, see which orders grabbed the inventory, uncommit those, commit the child SO, rinse and repeat

Can you commit or un-commit a quantity or is it only true/false?

You can control that `do not commit` column, not quantity.