I played with this yesterday. I have an 08 wrx with fmf q4, ais removed, and airbox opened up. I also have the fmf programmer. I had a pretty bad off-idle cutout, especially when the bike was cold and I am riding easy. I have been trying to tune it out with the programmer. I decided to check these Co settings. Mine was set to -11. It had a very slight misfire at idle, just slightly rough. I adjusted the C1 all the way up and found it goes to 126, and all the way down to -128. I was expecting a range of +/-30. At the upper limit, I could smell fuel really strong out the exhaust. At the lower limit it immediately stalled. So that is consistent with the adjustment affecting the mixture, with higher numbers being rich. I set it to 0, which definitely smoothed out the idle, but i haven't had a chance to ride since making the change.
I think this setting may compliment the fmf programmer. The pp does not have any idle or just off throttle adjustments as far as I can tell. I don't know that it will bump hp at all, but I hope it will smooth out the bottom range.