Flashed means that you have taken your Speed into the dealer so they could reset or "flash" the ECU. The original programing was basically causing the Speed to run way rich at certain RPMs, causing hesitation between 3K &35K. The flash reprograms the ECU helping to deal with this and makes the car much more drivable. However, if your Speed is new and your dealer didn't suck you might already have it done.
As for BOVs, I think the consensus is pretty much no, unless you recirc them. The Speeds MAF can not deal with the sudden loss of air when a BOV vents to the atmosphere and this can cause stalling at low RPMs and from what I hear a real nightmare to drive. However, this is not to say that you can't run an aftermarket BOV. But for drivability sake most of us agree it should be recirced. I know HKS and Greddy both have recirc kits for there more popular BOVs. I am pretty sure that Turbo XS has one too. Also, there are some daring individuals who have learned how to drive vented to the atmosphere without killing it.
Hope that helps.
