My guess is that the grinder and flap disc will work on undercoating for about 1.5 seconds each. Years ago my experience with undercoating was even when it's old and hard and crumbling, it will still plug up anything, even 60 grit sandpaper used by hand. Heck, it will even plug up a file.
I was going to suggest something to "melt" it because I just used undercoating under my front fenders because I thought it would handle rocks and stuff from the tires better than Fluid Film.I didn't undercoat any seams, let it dry, and a few days later when I Fluid Filmed the seams it melted any undercoating it touched, both rubber and asphalt undercoating.
Due to your por15 plans I'm definitely not suggesting Fluid Film, my experience with it just made me suggest something to "melt" undercoating. Maybe brake parts cleaner?
Good luck
FWIW, I put melt in quotes because I wasn't sure of a better word and wasn't trying to suggest fire. Fire would probably work as good as Fluid Film, just not a good idea.