Unsigned Code : This is homebrew code not written or "signed" by MS. Emulators and such that appear on the scene are examples of homebrew code.
Debug Executables : I believe these are executables that are created with the SDK. Normally you have to patch the SDK executables to make a proper XBE. I believe this means the chip will allow the program to run even without an XBE patch.
No Patch Hack : Not 100%, but as an educated guess, I'd say you don't have to patch an XBE to play it.
Macrovision Off : Disables the Macrovision Copy Protections so you can run your XBox through a VCR or other component without loosing picture quality.
Eject Trick : You can press the eject button without restarting your machine. You can simulate this with any mod that allows you to install Evolution X to the HD. By running the dashboard off the HD, you get one eject before the system restarts.
If I were to buy a Mod, I'd go with the Openxbox chip and the Evolution X 2.3 BIOS. I haven't tried the new 2.4, so I can't recommend it. However, it is probably fine, too!
:d: