I had some time this afternoon so I did a bit of testing.
Setup an AB800 with a Pro Studio Solutions 36" Octabox as light source.
AC9 mounted on FlexTT5 for the light and MiniTT1 with AC3 on the camera.
When the AC9 is plugged into the RJ on the back of the AB800 sets the light three stops below max so 1/8th power. That means there is two stops (limit of AB800's range) down and 3 stops up. The AC3 supports up to 3 stops up or down from middle.
The mid range exposure was F10 at ISO 200 with the front of the Octa 4 feet from the subject and no diffusion in place. I used a 1/200 shutter speed (Max sync on 5D2).
Exposure was right so I used the AC3 power adjustment and the aperture setting to test the up and down power adjustments in M.
The adjustments were reasonably accurate, always within 3% using Lightroom V3 to read the white square on a color checker.
The next test was using the Auto mode to provide Exposure Tracking. This means that once the base exposure is set, changing the ISO, Aperture or Flash Exposure Compensation on the camera with impact the power of the light. Thus, after making the first exposure, if you want to stop down the lens for more DoF, the light will track up in power. Similarly, if you open the Aperture the light will decrease in power. And, if you use the camera FEC to reduce flash relative to base exposure the flash will be decreased.
This also worked well. Its a little tricky to get the base exposure and in order to change the base exposure one has to turn the Mini off and back on. Change the exposure settings and then half press the shutter release to transmit the data from the camera to the Mini and thus the Flex and AC9.
I've never fine tuned my ControlTL stuff for Hyper Sync. It works with the AB800 and AC9 but it is also obvious that its using the tail of the flash. i.e. Not much light and distinct graduated fall of from bottom to top of the frame.
All-in-all works as advertised.
The image below is the baseline image from the test.



