Modding PS3 Controller + PSXLibrary + Arduino

Ive heard about the library for the PlayStation controllers : Arduino Playground - PSXLibrary
But I wasnt sure if someone could use this for modding the controller plus making a rapid fire mod.

Can anyone explain what I can do exactly with this library?

Also I seen that its for PS1 is there another lib for a newer PS?

No.

Thanks for your wonderful help :confused: