There's just this tiny but seemingly obvious issue that I can't believe I haven't noticed until now: to_date(now(), 'TMmonth') returns 'october' in an English locale (en_US.UTF-8 at least). Names of months and weekdays are proper nouns and as such *always* capitalized in English, so that seems wrong to me.
IMHO, the patterns of TO_CHAR() do as promised in the documentation [1]:
MONTH full upper case month name (blank-padded to 9 chars) Month full capitalized month name (blank-padded to 9 chars) month full lower case month name (blank-padded to 9 chars)
What you are proposing looks more like a new feature than a bug.