If your 94 is MAF like mine I see no reason this couldnt be done fairly easy. Obviously some plugs would have to be lengthened and moved but I see no reason why it wouldnt work. I would buy some 36lb injectors and just get a aftermarket MAF calibrated to match those injectors. If the firing order is the same as the 5.0 the ECM wont care. All the sensors should plug right in across the board except for maybe some of the pollution control shit.
I think the biggest issue would be the trans since its also controlled by the ecm.You would have to find out what differences there was between the 460 trans and the 5.0 trans wiring and maybe make your own jumper harness to make them match.
Or do like my buddy did in his 77 f150 efi460 truck.He bought a Ultrabell for a 460 and cut the bellhousing off a AODE.The Ultrabell let him bolt up the 5.0 AODE trans to his 460.Wiring then just plugged in and worked like a stock 5.0 truck.