I have no doubt that your speedo is working, but as someone with an engineering background that has spent more than 1/2 their life working in IT, I have great difficulty with "it's just computer magic".
Out of curiousity, what gear ratio are you running in the 80 series axles under your LX470?
My ratio is 4.88. Funny thing is I also have a software engineering background. I also spent all my life in IT, in addition to developing a software by myself and licensing it to numerous companies. The funny thing about computers, specially black box, if it works leave it alone and if there is a bottom that's says calibrate for larger tire and it works leave it alone and don't worry about it. There is no need to reverse engineer. My 0.02 cents.