I'll say this one more time: You can degree the cams on a Hayabusa, GSXR750, 600, TL....
All you are doing with cam degreeing is changing is the valve opening/closing with relation of piston location. This will not in any way damage, effect, or alter the CMP's job or efficiency. The CMP is a nonadjustable sensor in a fixed location (on the end of the intake cam.
The sensor still reads the same just the power curve changes due to the different cam timing characteristics. You will not have a hp increase, just effect the torque curve.
The GSXR750 has the same CMP sensor and ECM setup, we made several changes to our race bike last year w/o any problem other than the slotted adjustable cam gear slipping at Daytona (gave us great hi end speed, but made the bike unrideable in the infield).
RoadRacing World had a good shot of Shane with fire from the exhaust, this was not f/i problmes, it was the slipped cam sprocket on the exhaust cam. We did not find this out until we missed the race (co$tly mistake).
Here is the picture from RRW:
http://fatman.pro-libertate.com/~jeffw/assets/shane.gif