Just put it on a dyno and do a couple pulls with it and a couple without it and check to see how much the timing and fueling shift (if any); I'm not sure about the complete scope of it's affect on engine operations.
The oil pressure signal is not uncommon in modern vehicles at all... in most vehicles it's far more critical. I don't know if the TCCS does any "sanity checks" if not then you could put together a bandaid to run without it... it's probably just easier to leave it though.
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