I think MOD calculated using O2 % is standard function of any analyser with processor, e.g. see https://www.greisinger.de/files/upload/en/produkte/bda/GOX100T_EN.pdf (page 4-5).
I did such option in mine, too (never finished, I stuck to simple voltmeter-like with potentiometer calibration, as I really use standard mixes anyway):
I have used this analyser for a few times but I have never noticed this functionality. A friend of mine has it.
But anyway, MOD display is only a confortable function (mine shows the calculated values for 1.2, 1.4 and 1.6 pO2 without pressing any button) and more usefule for novice divers.
For tec and experienced divers it is not neccessary, especially if standard gases are used.