You do not have to remove the silencer ring, removing the silencer ring just makes the turbo louder, its just personal preference. I like to hear the turbo whistle. I took mine out yesterday it took maybe 15 minutes. If you don't like the sound just reinstall the ring.
If you decide to remove the silencer ring do a search on the forums, someone had pictures and directions posted. It just takes a small screwdriver to pop the retainer snap loose and out comes the silencer ring.
95 2500 auto 4X4 3. 54 gears, stock for now silencer ring removed.