I'm running rev 5. I sent it directly to Split Second. They didn't charge me for the upgrade. You'll have to send the controller unit it which is a bit of a pain if you already have it installed but since it was free, why the hell not. Haven't run it yet though. Car is still down.
I do have two clients with Rev5 (Luis from Spain too) and as far as I know both did not had any problems. In fact, Accell seems to be much more in play as well as Low compared to my Rev1. Since I was an EE in my early years I try to check with SS to do the chaneg myself (shipping it back and forth from/to US is expensive and annoying)
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