So after doing a bit of digging, it turns out 'sysctl' is actually included in m0n0wall. Using that, I was able to manually adjust my CPU speed. I do have a kill-a-watt to measure the energy usage, but I'm not at the m0n0wall's location right now to check it.
The commands I used (on exec.php):
This will list the various CPU speed options.
$ sysctl dev.cpu.0.freq_levels
dev.cpu.0.freq_levels: 2392/-1 2093/-1 1794/-1 1495/-1 1196/-1 897/-1 598/-1
And this will set it to a speed:
$ sysctl dev.cpu.0.freq=897
dev.cpu.0.freq: 897 -> 897
Before setting this, the CPU was running at 2392Mhz. When maxing out my internet connection, CPU usage was less than 5%. Now that I dropped the CPU down to 897Mhz, CPU usage at full internet speed is around 55%. I could probably drop it down one more level and still be fine.