There exist special pliers to remove chips but one can do it also without. If it sits on a socket (and is not soldered on the board) pull it off gently. Sometimes you`ll have to start on one side and then lift on the other. Careful though as you don`t want to bend any pins.
Usually chips/ICs have a round mark on one side on the top so you know which way round is the correct position.

When inserting the new one look close that all pins are in the socket holes before slowly pressing it down. On new chips the pins are sometimes bent slighly more out or inwards.
I never did this on a 907ie but I guess it`s the same as on any other electronic device.
As many chips don`t like electrostatic charging you should earth yourself before touching the chip.

G.

Well guys, thanks for the advice,

Had the same problem as Claude though,

all plugs in, reinstalled the box, reconnected the battery,
ignition key on....dash lights up....gooooood,
but...no fuel pump...not so good.

Starter motor turns over the engine, but no starting.

Pulled the FBF reinsterted the old chip and all good.

Ahhh well, FBF another fail. Email on the way.

& u r sure it isn`t mounted the wrong way?
50% chance.....

If you put a chip in the wrong way round it kills them. Guess how I know.

Well gents, I must say Ferracci have been very helpful with my problem...and it does appear as though it was MY problem , ordered the wrong chip....embarrassment.

Well, they are sending me the correct chip and everything should be peachie.

Once again, not the fault of Ferracci, mine.

...FBF chip installation, take 2...
I received the second chip (thanks Mr Ferracci ) installed it this morning, not before putting rubber gloves on and making sure it was the right way around,
turned the key on, this time it fired up, but needed more accellerator advance (choke?) and if you removed the choke before the motor warmed up it would stall, so it took about 10min for the motor to idle without any accellerator...the previous FIM chip was on the bike since 92 and this would start the motor very quickly and needed a lot less choke
once the motor warmed up I took the bike for a spin, and I was impressed, the torque curve is much smoother and I think the motor is running a fair bit leaner (but I'm only guessing) the motor is much happier and responsive from 2000rpm...finnpaso, under low accelleration with no engine stress
I only went for a short ride, but it appears that this FBF chip is a very good product and agree with Nigel (blazing928) and would say if you have any issues with your FI system dont hesitate to get one...for $150 you cant go wrong
I will now get one for the 851 as well
The P7 FI system may not be the ultimate in FI technology...but its still good