Well thanks for the response.
Now the damn thing has arrived I realise, as Kai correctly tells us, that it aint no damn chip but a resistor. Hmmm <strokes imaginary beard> Missale of goods act... I will take your advice and ceromonially burn the thing. I am happy wasting £5 given that I haven't nailed my nice shiny VTEC!!!
Next question: can anyone recommend a *real* mod chip?? I would really like to be able to plug my laptop into my engine and 'tinker' myself. Any thoughts?