If the keywording is contained in a .xmp file for each image, rather than being appended directly to the image file then that would work in the way you want it to. Place the .xmp's in the same folder as the original RAW's and LR should detect that they are there and also contains different data to that held by LR's database. This should throw up the ! symbol in the grid preview in the Library module, prompting you to update the LR catalogue, or ignore the .xmp.
Although I use LR for managing all of my images pretty much all of the time, I also use other programs from the Creative Suite than just PS, and when working with those I use Bridge as my file browser. If I open any image folder Bridge automatically starts to produce .xmp's for the images. LR see's these and as they are effectively empty of additional data, keeps asking me if I want to update the LR data, or the data in the file.
For non RAW formats where writing to the file is normal then every time you edit a file in another program it detects the change and throws up the same indication. At least LR4.4 does for me, and the latest versions seemed to be the same when I tested them. So if you are working with non RAW files writing the version with the keyword data over the existing files should also work. LR is quite happy to keep applying the same processing changes to images that have been edited in external programs and resaved. I do all of my monochrome conversions in LR, but sometimes to get the best results it is necessary to fix the colour conversion first, and do the monochrome conversion on a bitmap file. You can go back and edit the colour bitmap file, and LR will then update the monochrome version. This applies to Virtual Copies of the file too.
Alan