Wet Kit injects nitrous oxide and fuel (either pump gas, race gas, propane etc), is setup after the MAF/MAS and does not require larger fuel injectors, but depending on fuel pump volume vs pressure, may require a higher output fuel pump.
Dry Kit injects a fog of Nitrous Oxide only, must be setup before the MAF/MAS which detects the N2O and adds the necessary fuel via fuel map in the PCM or ECM. May reuqire larger fuel injectors, and pump since the fuel is provided from the PCM.
When properly installed and used, nitrous is as safe for an engine as any other power adder, i.e. turbo or supercharger. Use more than the design limits of the components and you can break ring lands off the pistons, melt plugs, etc..
Additional mods, or supporting items depend on your total combination. The Busa in stock form is capable of 40-50dry or 100wet from my research, however if you already have pipes, ported cyl head etc...you wont be able to run as much until you do the bottom end.
You would want to maximize the safety of the system by using a step colder spark plug and slightly tighter gap.
Mess with the PC? No, but the PC can be utilized to take advantage of additional fueling, like getting the AFR lower (which is safer) than you would on motor alone.
Once installed, you would have an on/off switch and an arming switch. You open the bottle, turn the arming switch on, and once in gear & Throttle position you want to start spraying, you press the button for on, and it injects N2O (or N2O and fuel) thru a small nozzle, which fans out the mix into a fine atomized state which allows it travel thru the intake tract, into the cylinder. Once in the cylinder, the compressed mixture will be heated beyond the requisite 572*F where the 2 x nitrogen and 1 x oxygen molecules separate. The additonal oxygen allows the additional fuel (either from the wet shot, or the computer compensating by adding fuel) to burn, thus providing more power. Thats it in a nutshell.
*note* the power level listed above was found by me searching this site and others. I have not used Nitrous on my bike, but I plan to. I have however been around the block a lot with nitrous on my 2000 LS1 Z28 Camaro...using wet, direct port and dry, as well as combinations. The theoretical operation is unchanged no matter what internal combustion engine you are using. The power level again is dependent on what the sum of all interal parts & supporting parts can handle...
Charlie