The answer as of this moment is that the solution I am looking for does not yet exist.
In light of this current lack I have proceeded to evaluate my Undesirable Solutions.
I first considered using a try/catch|except block and parsing the error when trying to delete a Launch Configuration that was attached to a group. The cost of parsing was more than I wanted to deal with so I decided to go with looping through the AutoScaling Groups and finding a match for each individual Launch Configuration.
While the solution is less than ideal, it is working quite nicely. I hope to post the code on GitHub shortly so that others can also benefit from it.
Update: 07 August 2013
Here is some code on GitHub that I have been working on. Hope it is helpful to others.