Seems like the main effects of the update to Monks is to replace Human with Orc as the race of choice, and make them even more likely to equip weapons and armor... If balanced, barehanded warriors who don't have a strong race preference is the goal, my suggestion would be -20% base attack, -1 base damage per level, and impose a penalty for using weapons and armor; say, equipping a weapon adds -50% attack bonus and equipping armor reduces health regeneration by 50% (i.e. to vanilla rates).
I liked the idea of the Trisword as an occasionally useful joke item. If Monks got an equipment nerf I'm not sure if restoring the old version just as it was would have any significant problems, but even adding another penalty like slow strike or reduced health regeneration would be more interesting than the current generic per level increase.