Hello Bryan Sharp:
Yes, it should be possible to use the MEMS oscillator as external 32 MHz reference for the KW40. You need to set the bit MCG_C2[EREFS] as 1 to bypass the internal oscillator and use directly the external reference.
Just make sure that your oscillator complies with the oscillator specifications as stated in the Datasheet, in particular the +/-20ppm frequency error:

Best Regards!
Jorge Gonzalez
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