Seems German tuner companies believe in a tuning market for the 1M.
Here's another announcement, from "DS Motorsport" in Germany.
Note, they hope to have this tune available in March !
Translated with Babelfish:
BMW 1er M Coupé 400 HP with TÜV in preparation! Starting from March 2011 available! For the 1er M we offer an achievement offer on 400 HP with 540 Nm torque as well as opening of the maximum speed delimitation with a new Vmax on 295 km/h. Additional recommendation during this engine performance is height adjustability, and in the absorber characteristic adjustable our DS engine haven special chassis.