Wouldn't changing the algorithm force a new blockchain for litecoin? That'd screw up every pool, exchange, client, etc. which is probably going to annoy a lot of the network.
And if that did cause some sort-of "litecoin 2", that would send the value of litecoin downhill, meaning anyone who currently has a lot of their money in litecoins, ends up with nothing...

Another thing is that mtrlt still refuses to show any proof... You can't really say much when he could just be spreading FUD. At most the only proof I see is his 3MH/s on squidnet, but that doesn't show his stale rate to tell whether it's all just bullshit "fake" work, and plus I know of a few people who have managed to get similar hashrates by mining on their businesses clusters, or home clusters, which surprisingly a lot of people do.