Welcome to the forum.
I'm not sure about the "chip" he could be talking about a race ecm or one of those fuel tuner boxes that I've seen before.
A lot of people call that shifting patter "gp" style or race shifting. It's how most race bikes are set up to make it easier for race riders to upshift in full lean. Some people love it and some people don't. It's up to you. It won't do any harm.
Do you have any pics of the damage in question? I'm not sure of the location that you're speaking of.
Congrats on the new bike. If you haven't owned a Buell before, it's different from anything else out there and if you learn to maintain it and ride it right, you'll have many years of great riding ahead of you.