There's more to it than the alcohol sensor in the line:
-The sensor won't do jack unless it still has a E85 capable ECU to actually report to, which can alter timing to accommodate a higher octane fuel. (as far as I know there aren't any E85 4.0's, so since I would think you changed computers, that's an issue)
-E85 engines have different combustion chambers than non-E85 engines (see the Tech Library for an illustration of the 3.0 heads.) Even if it did run on it, it's probably not ideally configured for it.
-E85 is more corrosive than regular gasoline, so the O-rings and gaskets for the fuel rail and injectors would have to change.
-E85 injectors themselves are different. Standard is 19lbs, E85 uses 24lbs. I have had to replace mine on my E85 3.0, so stumbled onto that one.
Those are just the things I can state with even a little certainty, I'm sure there's more....