Pressing the ASC button in for 10 seconds (so that the light is on the dash while you're holding the button in and then the light goes off after the 10 seconds) has nothing to do with the engine software. What it does do is turn the ASC throttle control off and leave the ASC brake control active. That way if you're on something slick (snow, gravel, etc) and don't want the ASC to cut the throttle back but still want it to apply the brake slightly to the wheel that's slipping you can set it to the 'secret' brake only mode with the 10 second ASC button hold.
Once you set the ASC to that mode it doesn't go back to regular mode until the car is turned off and re-started.
If you want the computer to re-learn your driving habits (training the chip) you need to disconnect the battery and leave it disconnected until the entire electrical system is fully discharged. That will erase the computer's memory and you can have it adjust itself to a more aggressive tune by going out and driving it rather aggressively for a few days.
Cosmos Black/Black 1995 540iA M-Sport
BMW Individual Exclusive Edition, 1 of 65 total, 9/25/95 Build