I've started doing singing squares over the past year and have been making adjustments to lyrics for each one I do. So far the changes have been relatively easy - mostly eliminating explicit gender and talking to everyone whenever possible vs. a "talk to the (assumed) lead" focus.
There are real challenges for me in some popular ones - for example, despite the fun of the sequence, Smoke on the Water's https://squaredancehistory.org/items/show/1383 refrain's primary phrase essentially amounts to "we'll kill 'em all" - as it's taken from a 1944 WWII song. I'm personally not ready to call that knowing the meaning and a significant re-wording of the key refrain is not likely to go over well with fans of the dance.