From a quick look at this gadget I don't see how it can do ISC, either using the current stepper valve or another air bypass device. Maybe I'm missing something but it has neither the functionality or the required outputs to do it. It wasn't designed for this.
The stock ISC system deals with much more than cold starts. On every engine start it's wide open, then becomes active once 500 rpm is reached and remains active any time the idle contacts on the TPS are closed. It works to maintain an idle rpm setpoint, which changes depending on load, AC clutch operation, coolant temp, headlight operation, and a few other variables.
Why anyone would remove it is beyond me but it's true you don't "need" it as long as you supply bypass air to the intake in some other way. I can think of a half dozen ways to do it off the top of my head, some of which are already on the engine. Not difficult to do but a step backwards none the less.