It looks like you can put into an external enclosure. I see a molex plug & possibly a sata on the back in the pic. If that is a USB on the back, it would be nice if Team Xecuter made their own external enclosure. Would be amazing if it connected internally to IDE; it would be compatible with just about anything.
I do believe you are smoking the crack. The article specifically states '5 1/4" PC Bay Complete Control Panel for all Xbox 360 Connectivity Functionality and more !" & "Power Switch For DVD Vendor Mode"
"All" would probably include Lite-ons

Does the power switch have anything to do with the probe? That is MRA, right? I just dont know how that switch would be connected to the device externally.