So, in light of (yet) another non-related issue with my radio, I disconnected my battery for about 2 hours on Thursday morning, reconnected it and drove the vehicle. I've been driving it a lot more aggressively since then, and that lag is really not noticeable any more. If I go back to driving like grandpa, I notice it right away, but its not nearly as delayed as it was.
I've pulled the Torq-it out and boxed it up already, as its actually more annoying to have, especially when driving it aggressively (red light is impossible to get it to stop downshifting!), that'll be shipped back to the store.
Rather than type up what's already known, I'll just say this about the unit. All it does, is it makes the pedal more "reactive" by shortening its "throw". You reach full throttle about an inch from the floor sooner while in "red light" mode, and about ¾" sooner in "green light" mode. The numbers from my Torque app prove just that. I can hold the pedal in any position besides full throttle and no throttle, and while flipping through the modes, watch the data change.
Overall, its an interesting unit, but definitely not worth the $285 bucks for it.