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I think the Race Chip is similar to JB4 for how it works. Essentially is a piggyback between your MAP/MAF sensor that spoofs the signal into showing lower boost to the ECU, which in turn increases the boost to compensate. Your car thinks is it pushing 10 PSI, when actually pushing 14, so it adds 4 PSI to meet the target parameter and adds fuel to meet the required air/fuel ratio.
Of course, JB4 is promoted for having better maps and the ability to fine-tune parameters since it can read from the OBD port.
Both of these can apparently be seen by the dealer even after they are removed, so there is risk to your warranty.
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