So the ECM is running software that is called a firmware because it's running on an embedded microprocessor. There's a couple of different Buell firmwares running on their ECMs; yours is likely BUE2D, as was mine on my 2009. My '08 XB originally came with a BUEYD firmware, later updated by the dealership to BUEZD, and finally to BUE2D also. Anyway, the firmware is essentially a program running on the ECM and it loads a calibration/tune/setting everytime it's powered up. That calibration/tune/setting can be saved out as a bin file, short for binary data file. You can then look at this bin file using a computer program like TunerPro RT. With the correct definition that maps out the bin file into legible sections, you can edit, tune, and reflash your ECM with TunerPro as well.
I used a cable that I made up using a Deutsch connector for the ECM interface and an FTDI chip based USB-serial cable. Then I used TunerPro RT and EcmSpy's XDF to read the bin file from the ECM. I saved this data, then flashed a new tune to the ECM that locked the AFV at 100%. I then rode around with a laptop strapped to my bike and datalogged. Analyzing the datalogs, I was able to update my fuel maps with the EGO corrections recorded and fine tune the closed loop region after a few runs. The open loop is a bit trickier and more harmful to the engine if not tuned right, so I used data from the race ECM for the open loop region. Eventually, I might get to a dyno and fine tune them, but hopefully the race ECM keeps things safe in the mean time.