Gnome's summary is correct. I am not a tech expert but basically the stock o2 sensor is narrow band which means
it only allows the stock map to make small adjustments to the not too good stock A/F ratio map. The dyno guys use a wide band sensor to do an accurate custom map for the TuneBoy/PowerCommander systems. Then the stock o2
sensor is permanently disconnected because the new
tune/program/map doesn't like it/need it. Also the dyno boys disconnect the Secondary Air Injection system during the custom tune so the wide band sensor doesn't get confused
by more air getting pushed by it upon occasion ( like deceleration---popping) thus you can remove the SAI system and put in block off plates if you want.
I am sure that you will get a better explanation from some other folks ( ps---when prefectly set up an electronic fuel injection system will run like a good carburetor----that should cause a fight

).