I got this form the website.
"The F-CON V not only adjusts the fuel management system but can also adjust ignition timing and cancel each limiter function that is in the factory computer. It can be used for up to an 8 cylinder sequential injected engine, reading all signals of fuel supply, injection timing, ignition close angle and speed of each cylinder independently, altering data if desired. F-CON V controls the engine fuel and ignition map completely, with no changes to the stock CPU. Speed and rev limiter cut is also read and can be eliminated. The F-CON V can be used as a stand alone unit (no factory computer). The F-CON V uses air flow, pressure, throttle position 1, water pump, intake air temp, speed, and all other cylinder signals of the stock computer. It also uses pressure signals from the HKS Pressure Sensor, and output signals of all other existing HKS components such as the GCC, VPC, etc. By recalculating data from the original map memorized inside, it is possible to control functions more precisely than the stock computer. F-CON V contains a self diagnostic function which can determine errors not only in the F-CON V main unit or each input signal, but also the air flow, pressure, crank angle, throttle, water temp, and intake sensors. F-CON V stores up to 4 different fuel and ignition maps with access through the dip switch on the front panel when adjustment is desired."
So I guess it is stand alone computer.