Thats not flooding out. If it were flooding out, the blms would drop to 90 and stop...thats where its pegged on the bottom. 160 is where it pegs at the top. The BLM is fueling correction. With Fords its called fuel trim. So if the number is dropping, that means the computer is sensing a rich condition and pulling out fuel to compensate. If its going up, that means the computer is seeing a lean condition, and is adding fuel to compensate. If its hitting 160, then there is a major lean issue, OR, the computer thinks its lean when it may not be. The latter would be an 02 sensor not working or a bad MAF...or the reading is being interpreted incorrectly by the translator (incorrect settings) First, warm the motor up completely and let it idle...wait till the little led stops blinking. That means you're in closed loop, where all the sensors are active and communicating with the comp. What is the AF reading...not air/fuel...AF on the scanmaster is MAF reading. Write down the idle number, then bring the rpms up to 3000 or so, and write down that number. That will help us see if the MAF is bad. Without shutting it down, go over to CC's...Its the O2 crosscounts. That will tell you how active the o2 sensor is, or if its active at all. It should cycle from 0 to 255 within 90 seconds and itll keep cycling. Do the same and write down the idle number and rev it to 3000, hold it stead and see what it does. Do the same procedure with BLM's. Also write all the other numbers down and post them. I think the translator may be set wrong and/or you may have massive vacuum leaks. There may be an incompatibility between the chip and the injectors as well.
Also make sure that anytime you make a change to the translator switches, unplug the computer's orange power wire for a few minutes to clear any memory thats been stored while it was trying to compensate for a problem. If you dont reset the computer every time, you'll keep running around in circles and not figuring out the issue. Mine had a 3.5" LS1 MAF, but it wanted the translator set to 3" MAF. If I switched it to 3" MAF though, the problem wouldnt go away..it would just get more weird. But if I erased the computers memory while changing the translator settings, then suddenly the problem would clear up.
post all those readings up, and make sure to warm the motor up every time and wait for the system to go into closed loop. Otherwise the readings are all bogus.