When in 2WD, the IWEs unlock to allow your front wheels to spin freely. If you unlocked the IWEs and pushed your truck down a hill, you could hold your half-shafts (front axle shafts) and prevent them from spinning while the wheels are still turning.
When in 4WD, the IWEs lock to allow your drivetrain to turn your front wheels. If you locked the IWEs and rolled your truck down a hill, the half-shafts would spin in your hand and you wouldn't be able keep them from spinning.
Using this same analogy, if you push your truck down a hill and your IWEs are locked, your front wheeks are turning and your half-shafts are turning so your torsen diff is also turning as well as your front driveshaft. Each of these components have either gears or bearings that generate heat when rotated due to friction. Heat is generated due to inefficiency (friction) which is why you loose MPG. The more heat, the more inefficiency, the more MPG loss. Each truck MPG loss will be different and depend on the toerances in your components.
Okay now the fun part. Axles have a ring an pinion gearset which connects the driveshaft to the half-shafts. Like all gearsets, one gear is designed to be the drive gear (pinion in this case) and one is designed to be the driven gear (ring gear in this case). If you are in 2WD with this IWE elimination kit installed, you actually reverse this relationship (the ring gear becomes the drive and the pinion becomes the driven). What does this mean? Well this changes the way the gears are loaded. So what? Right.
Well a few things can happen, the wear pattern can change on the gears (and bearings) leading to increased wear, decreased life and increased noise over the compoent's life. This can also cause increased service intervals for the front axle and reduce the life of the oil.