In regards to software upgrades, most new ones have the ability to adopt newer software but only from like to like. The S5 has a different and more current transmission from past series. So if BMW release an update for that same transmission, there isn't any reason why an update can't be had.
I am not sure that MOG uses the BMW software for the gearbox. Do you have any further details on the differences between the S5 transmission and the previous Aeros?
2010 Violet Aero Supersports | 2012 Green Vantage S Roadster