Don't worry about your wires! They are fine, they won't get hurt by piercing the housing... the second you pull the wire out, it closes up anyway (don't forget that you are piercing rubber, it stretches out of the way then shrinks back). You don't need to dab RTV on it because once the wire is out, other than a little dinky dot on the wire, you won't be able to see where you even touched it.
You guys... this is a very simple process... don't make it complicated, and don't be afraid of it, you aren't ruining anything and you can put it all back to normal with out a sole ever knowing anyway! There is nothing bad about this mod.
As far as what the mod does, read this post begining to end, and then (I HATE saying this) do a search, because there was about a 80 reply post that I did a while back and I explain how it all works in that post as well. Check it out.