From what I have gathered from Fleece the controller plugs in the Data Port on the block. From this it gets Load, MAP, TPS, etc... The Controller then adjusts the vanes on the VNT to match your current conditoins. The controller is user adjustable if you want to change how it operates. . say if you tow a lot, or want to use the HE351VE for twins (like I am considering). .
Then you have a in-cab dial that allows you to run the controller in full auto, or auto with input to open or close the vanes more than what the current conditions call for. . Say your towing and you want boost to build sooner and stay higher, well you can tighten the vanes up, or your cruising empty on the interstate you can open the vanes to drop boost and drive pressure to see slightly better mileage.
Then there is the exhaust brake, with the EB option you have a switch that runs just like any other EB out there.
Fleece also said they are working on a warm-up mode, so when coolant temp is low the vanes will close (user can adjust how far) to put a little more load on the engine to help it warm up faster.
The HE351VE is a 60/60 just like the HE351, but the housing is variable from 3-32, where the non-VNT HE351 is fixed at 9cm. So the overall airflow won't change much, but the adjustable housing should allow for faster spool, and reduced drive pressure at a given boost pressure. . which hopefully leads to slightly lower EGT's.