It can flash one of the off the shelf tunes all of which have the corrected timing. There are several ways to flash the ECU each with their own strengths and weaknesses. This thread has some decent info on the different ways from a lowest cost perspective.
http://www.ft86club.com/forums/showthread.php?t=126669
The links at the bottom of any post by @
steve99 are really good reading. There are several guys on here that are knowledgeable and a good resource to learn from.