Its' stated original function is to determine the condition of the cat by informing the ECU of unburnt oxygen readings taken from two oxygen sensors, one before and one after the cat... as in some of those bikes listed, when the ECU is programmed for that function.
This lets the ECU adjust the A/F mix to ensure the cat is in best condition for minimum closed loop emissions ... to keep the greenies happy.... All nice and legal.
The single oxygen sensor in the Rocket is not intended to monitor the cat.. but it still lets the ECU adjust/correct closed loop A/F ratios for minimum emissions - which means lean burn.... again for the greenies benefit.
The unit has provision to connect to only the one sensor, when it performs the latter function, as does any oxygen sensor. The trick bit is that it apparently is able to alter the A/F mix without the ECU knowing, by sending a dummy voltage signal to the ECU. Naughty naughty............
If so, one can fiddle with the closed loop A/F mix without the ECU "correcting" every move you make. Probable outcome - less low speed engine surge, less decel pop, worse fuel consumption, more power, smoother low speed running. And greenies chasing you down with sticks....
Or maybe I dunno...... waiting with interest to see how Wadejesu goes!