[M.Works]

Yes sir, about the Knock Module...
What it simply does is that it retards your ignition timing whenever your knock-sensors detect engine knock due many causes like high temp, bad fuel; and so on, however, engines when first made we expected to knock. So, when your knock module gets a signal that the engine is kocking it simply retards your spark plugs ignition time than normal, which in turn would reduce engine output and thus protect your engine from getting seriously damaged.