I might have the name wrong, the knob can adjust the turbo(25%, high idle, 50%, and 75%) they showed me how it worked but I have left at the setting they had it.

that's a chip. just a 4 position. probably 25% over stock, 50% over stock, and 75% over stock. OR 25, 50, and 75 HP

Why would the airbag light flash?

not sure. has the vehicle been in any wrecks? even tho it's hard to get the air bags on these to go off.

thats why i keep my ol superchip cortex around.. owning 6 7.3s, it comes in handy for these things.. i had a similar thing happen with one. check all of your wiring coming out of your pcm. i had a wire go back and thats all it was

Changed fuse #45 and so far it has fixed it....the fuse had some corrosion on it but wasnt broke....