I also have an '09 M8, and I sometimes run a SLP can on it. And I sometimes get a low end bog, particularly after doing a longer climb, or higher throttle. In my case, it's not the can, even though it more or less started after I added the can.
It's a combination of belt deflection, clutch condition, and oil pump sticking. Belt deflection needs constant adjustment. If the belt isn't sticking out of the driven clutch more than 1/16", I get the bog. If the motor mounts are starting to deflect to the rear, that'll add deflection and also contribute to the bog.
The bog itself is made worse by the oil pump sticking, or retracting very slowly after you're high in the throttle. I recommend you do the O-ring fix, and clean and lube the return spring.
Finally, these sleds seem to eat clutches, particularly if climbing a lot. Make sure your clutches are in good condition. A weak primary spring will let the engine engage too low in the RPM range. Worn weights (caused by worn rollers) will make the clutch hang up and that'll bog it out too.
Check and correct all of the above and I'm betting your bog will go away.
That's been my experience, anyway, with the same sled. Feel free to try the exhaust deflector, but I don't think it'll make a difference, since putting on my stock muffler didn't get rid of my bog.