Im not 100% sure, but I *think* the one bob sells is a CUT-OFF and not a true bypass. The picture kinda sucks, but it looks like it only has one inlet/outlet.
The ranger/explorer is a true bypass and allows the coolant to still flow back to the waterpump, which the one on Bob's site does not look like it can do. (Again, Im going off the picture, if anyone has one, chime in).
You just cut the heater hose on the back left of the engine compartment and stuff the bypass in. The hoses hold it in place. Run your vacuum line and your done.
Took me longer to flush my tranny yesterday than it did to install the bypass. (did that yesterday too).