This firmware was not developed by Nicehash. It was developed by smit1237. Nicehash is just distributing it.
There are a lot of changes. The cgminer version isn't the default broken Bitmain one, but instead a cgminer 4.8.0 that still submits stale shares. It might have a different default queue and expiry setting too, but I'm not sure about that. In my testing, it gives about 5% higher hashrate than the one S5s ship with on p2pool.
The smit1237 firmware also allows you to upload custom cgminer binaries to /config/, where they will persist across reboots and will be used instead of the cgminer in (IIRC) /usr/local/bin/.
OK, that sounds more like it. I might give it a go on one of my S5's & have a look-see what the queue & other settings are then, thanks for that info jtoomim
Edit: Just flashed it & queue is set at 8192 Searching for the parameters now to change it............
Edit 1: OK, changed the queue setting to 1 for testing. BEWARE: This firmware does not submit stale shares - I noticed the "no-submit-stale" parameter in the /etc/init.d/cgminer.sh file (line 69), so I deleted it as it is my understanding that the default cgminer setting will submit stales - very important for p2pool......I'll monitor it & report back later.