Here is the mod, enjoy.
Just simply pull off the rubber hose (red arrows) where the red circle is and leave it pulled off. ONLY the rubber hose where the arrows are pointing at, NO NEED for the second rubber hose to be removed!
If you're afraid that authoroties could see the removed rubber hose, take a piece of plastic (some sort of tiny plug) and try to push it inside the rubber hose. Then, put the rubber hose back on (like on the picture!).
Please read the warning and also be aware that the exhaust will be LOUD all the time, the sport button doesn't change the loudness anymore. BUT: due to the changed throttle response by pressing the sport button (chrono sport only!), the sound gets "better" with sport chrono activated.
It is the same sound like on the old 996 PSE with two differences:
1. it has more high pitch sound, less deep groal (very similar to the old 964 RS), very nice original 911 setup
2. it is not quite as loud as the old PSE but it may change when the exhaust is "burned in" (or better said: burned out) after a few thousand km.

Also be aware that with the loudness control activated, the sound is pretty disappointing, surprisingly.
Also be aware that it may take a few fast rounds before the exhaust starts to get louder (strange).
Directly after install, the PSE sounded almost like my original exhaust.

And finally, good news for 997 Carrer (not S!) owners:
the exhaust is approved for the Carrera (not S!) too.
If you can get one...get one.

Now do we have good news for you or not? Enjoy guys.