Well, my car is back on the road ! Turns out it was a combination of 2 dirty injectors and a bad MAF sensor, everything is fixed and the car starts perfectly when cold on E85 and gas. The flexfuel conversion kit has an ethanol sensor similar to those on GM flexfuel cars sold in the US. Fuel trims are always around 0 so the kit does what it's supposed to.
While i'm at it, it seems like there's a lot of misconception about ethanol around here. It's becoming very popular in France for the last 10 years and it does not cause any issues if the vehicle is properly converted. Used it for almost 400 000 kms on various vehicles (mainly 90s mercs) without any issues. It does not do any harm to the fuel supply system if the car is made to handle E10.
However it can harm fuel lines not made to handle ethanol in older vehicles and just like E10, not really working well with carbs. The biggest source of disasters is when a vehicle is not properly converted and running lean. I've seen holes in pistons, burt valves and melted cats because of people switching to E85 without any modification or at least without a scan tool and a proper understanding of how a gasoline engine's electronic injection system works and driving with a CEL.
Thanks to E85, my fuel bill is only 150€ each month at the most, it would be 400€ on gas. E85 is 0.60€/L while regular unleaded is 1.50€/L. Imagine paying $7 or $8 dollar per gallon. You would be tempted to do something drastic. It also makes the car more pleasant to drive and a bit more silent. Oil stays clear longer and no more carbon build up.
PS : Without a conversion kit, ECUs are usually not able to compensate enough. Very few cars can run 100% E85 stock, fuel trims will be maxed out far before that so a CEL will appear and the car will run lean. Some people do mix gas and E85 50/50 or other ratios rather than installing a conversion kit. Fuel filter has to be replaced one or two times after a conversion because ethanol will flush out all of the gunk really quickly. This is important on an older car.