I did a couple of classes with KRTraining yesterday, Defensive Pistol Skills 2 in the afternoon and a low-light class in the evening. I was using the M&P40 1.0 with the ejection issues; it worked fine during the afternoon class but at the start of the low-light portion it turned into a single-shot - the slide locked back after each shot. I switched to my other M&P40 1.0 that I bought new when they first came out and finished the class with no further drama.
I field-stripped the offending gun this evening and checked the slide stop. It's still in one piece, but when you rotate it up it just kinda moseys on back down. I field-stripped my M&P45 Compact and rotated the slide stop up and it returned under firm spring pressure. I hit the internals on the 40 with spray RemOil (because it's the only spray cleaner I have) and it didn't help, though it did flush out a bunch of crud.
MGW has the part. Brownell's has one too, perhaps a newer version? The spring shown on the new part appears to be broken off on mine. How hard is this to replace? YouTube and Google aren't much help. It looks like you have to remove the inner chassis to replace the slide stop.