My quick take on this
http://forum.cog-online.org/index.php/topic,48572.0.html I gather this is a way to re-flash your ECU yourself. The vendor unlocks the code and provides a way to enter maps by yourself in the comfort of your own home.
Kind of a "hybrid" between a send-in re-flash and a DynoJet controller. My only ? here is he states that his method is better than an add-on module but does not provide any proof or basis for this statement. I will assume he means that he does not like the extra wiring that is involved with this method. It compares with the re-flash but adds the ability to load differing canned maps without sending off the ECU to the vendor. So with added complexity comes added flexibility and conversely as opposed to the PC5.
Really the whole argument as to which method to modify your ECU comes down to one thing,
Re-Flash by outside vendor: Quick, easy with no ability to modify parameters (no fine-tuning, uses canned maps)
Woolich (?) method : Learning curve is faster but limited to other maps tailored to someone else's bike, (no fine-tuning, uses canned maps)
(Both of the above methods give you no way to know whether the premade or canned maps are good bad or indifferent concerning your specific needs)
PC5 (type) add-on controller : Requires some limited computer proficiency and a willingness to learn the basics to access the almost unlimited fine-tuning availability if you want to tailor-make a map for your specific needs. Can also be used with premade or "canned maps".
Of course there are further considerations but this is how I see it.
Fretka