There's actually three pages of (somewhat unfounded) explanations as to why it can't be ported to MS SQL. Mostly bullshit about WACOM SQL being incompatible with Transact (which begs the question, why not just use Transact in the first place when MS' and Sybase' version are about 80% similar).
Depending on which Sybase database they're running, it might not be unfounded. There are a couple of Sybase database servers out there. One is Adaptive Server Enterprise (ASE), which is based off the same codebase as Microsoft SQL Server. Another is Adaptive Server Anywhere (ASA, formerly SQL Anywhere, formerly Watcom SQL), which is a different codebase entirely. If the developers are talking about Watcom SQL, then I suspect they're running ASA, not ASE, in which case porting an application from ASA to SQL Server might be non-trivial (I've no idea, since I've never tried it).
There's also the fact that ASA is fairly cheap as far as database servers go, so there might not be much incentive to port these applications to MySQL.
(Disclosure: I'm a code monkey for Sybase.)