I was testing another python library in IronPython which calls munch, I found some errors when importing munch in IronPython. Here's what I did:

>>>import munch
Runtime error (ArgumentTypeException): unicode_escape_decode() takes no arguments (1 given)
Traceback:
  line 337, in <module>, "C:\Anaconda2\Lib\site-packages\munch\__init__.py"
  line 6, in script
  line 14, in u, "C:\Anaconda2\Lib\site-packages\munch\python3_compat.py"

I had consulted @dglassman for this issue, and here is his solution:
The conflicts are in python3_compat.py. "The issue is that munch includes a shim for compatibility with Python3, but IronPython doesn't understand it. And since we're working with Python 2.7, we don't need it."

The line 14 of the original python3_compat.py was:
return codecs.unicode_escape_decode(string)[0]

Is replaced with:
return unicode(string)

After I made this change, the munch library is imported successfully.

This might be a potential issue for IronPython users, if the solution is correct, please make the updates in next release.