MOD Board Help

I dont think you're gunna be able to make your own. Unless you have the proper equipment to make the PCB for everything to go on. Remember ya gotta have that thin edge connector on the PCB, that goes into the slot where the CDDrive ribbon cable comes out of.
No you don't. You can have a proper ribbon connector on the board and use a second ribbon cable (assuming you can find an appropriate one); the edge connector is just a way to make the thing cheaper.
Biggest problem is coding the PIC (the mod "chip" itself, you can think of it like a mini computer, with ram and I/O ports all in a neat package) since no one can really know what's written inside of it.