How MSI Afterburner works?

[drlukacs]

I have read a lot about MS Afterburner, and the various settings  that one can have on it. But there is one thing that I could not find any in-depth posting on:

How does it really work? Did anyone manage to analyze it with a disassembler?

I am particularly curious to know how AB circumvents the memory lock on HD 7970 cards, and allows for very low memory clock (and voltage) with high core clock.