I have not had any issues with setting up my hats to move to the 8-way positions on the F-16 FLCS that I have. I rarely use it in AH though since I can get all the views in I need in the regular setup.
Having talked at length with James "Nutty" Hallows via email about the functionality of the Cougar programming he is building; I think it should be very easy to work with. Just read the notes on the programming over at the Thrustmaster.com site. You might have to go into the archives since they posted it back in December and January. He uses a keyboard emulator called "Korgy" in the program to help you see what keystrokes are pressed for the different programming functions.