In modulating retroreflector (MRR) free-space optical (FSO) communication system using the micro corner-cube reflector array (MCCRA) as a retro-reflector, the pseudo phase conjugation effect (PPCE) is formed to reduce the atmospheric effect, and however, there is lack of systematic study of the simulation method, statistical model and performance analysis for this typical double-pass channel. This paper introduces a simplified realization of double-pass wave-optics simulation for the MCCRA channel, and the fading of the MCCRA-based MRR FSO channel is statistically studied using this simulation method. Through comparing the composite channel models based on double lognormal and double Gamma-Gamma (GG) distributions, the results show that the double GG model is more suitable to describe the MCCRA-based MRR FSO double-pass channel. The average system bit error rate (BER) is evaluated with the aid of the double GG model, and we first verify the performance gain of PPCE is larger than the performance impairment of channel correlation.