Yep, you can install a resistor in the wiring that leads from the sensor to the module on the passenger side engine compartment. The resistor fools the ECM when it does it's self test into thinking that all is well, but will effectively prevent ignition retard; EVEN IF ACTUAL DETONATION IS PRESENT!
Gotta use this trick carefully because of the potential of engine damage IF your engine actually begins to detonate.
I did it to mine early last year and verified that it works by running Diacom to monitor knock counts and timing retard.
I saved the exact resistor specs somewhere on my harddrive so if you want to tread this path, let me know and I'll try to track them down.
Also read that there is a way to make the knock sensor less sensitive by using a spark module from a different model GM car. Again, I'd have to research which one to use, but I believe it was from a "G" body.
Hope this helps.
Jake