I like barongs better when it's not so see through, as I think the white undershirt makes for a weird shape under the long sleeves. I never really thought of wearing barongs outside of formal functions but after a quick search on the net I think it can be done? I think most of our reservations stem from growing up in a culture that considers it as something you only wear for super special occasions like weddings, inaugurals, the like.

This looks like what you have in mind, eskdc?
I think layering can modernize the barong and I agree with teck, the translucent quality of the shirt can be an interesting thing to play around with. Personally, I dont think using barongs as a layering piece is inappropriate because technically it's just a shirt, albeit mostly reserved for formal wear. Bowtie guy there in the back looks like he has a barong under the blazer and it's not a bad look, save for the bow tie. Lots of different options in that photo too.

The boots here are an unexpected choice here and without the silly accessories and switching the pants with a pair that's less office slacks-y I think it's a fresh take on the barong.

For womenswear, here's a Valentino look from a couple of years ago that heavily references the barong. I like this look a lot, with the smaller collar and the absence of buttons on the placket. I think it's easier to like because sheer materials are much more commonplace on female clothing and from an aesthetic point of view it's not very different from lace, a material heavily associated with femininity.