Old thread but for anyone interested, I do have an update on this.
I've been running the hypermax smoke puff limiter for a few years now. It is an improvement but not as much as I hoped. The Bosch VE pumps have a dynamic response that makes them a true smoke control device across the operating map. The Hypermax setup has a much smaller diaphragm that tends to work only as an On/Off switch with nothing in between. It is adjustable but once you reach the minimum boost thresh hold, it pretty much releases all the fuel at once, so you still end up with a cloud of black soot (and the EGT risk that comes with it). It also tends to be a bit sticky when the engine is cold. Ultimately, I still have to drive with one eye on the side mirror to avoid smoke lugging in high gear.
Now that I understand how it works, I might be able to make a new one that uses a bigger, softer diaphragm but who knows when I'll have time to try that.
Overall, it's a disappointment and I wouldn't recommend it.