Re: the Ikelite cord plans, those are being wrapped up now. We have preproduction units in our store, and they were on display at BTS so I'm comfortable discussing this more. The converter is a round plug w/ a Nikonos pigtail to the housing. An Ikelite cord is plugged into the back. There is a built in switch, w/ TTL & Manual positions, but no Flash EV.
Pay Dirt!!
They are great strobes but the only way you are going to get iTTL with any strobe made by Ikelite is to purchase their housing also. Ikelite has built their iTTL circuitry into the housing and not the strobes.
Ikelite did announce an iTTL/eTTL cord for non-Ikelite housings but that was several months ago and they have not been very forthcoming about any planned dates for the debut of the new sync cords. Without that cord, any Ikelite flash will have severe iTTL exposure compatibility issues with anything other than an Ikelite housing.
Yes, it is a fairly provocative statement to make, but when you go fishing for information, you have to use the right bait.
I had tried hints in other threads about iTTL issues and didn’t get a bite, so I decided to word my reply with something more provocative in an effort to get a reply from anyone with information on the Ikelite iTTL cord.
Calls and emails to the company about progress and indeed if they were still pursuing the concept of the iTTL cord only resulted in vague references to the manual exposure controller or the slave flash controller. 
These guys could probably show the people in Washington, and for that matter up here in Ottawa, a thing or two about keeping national secrets. 

I miss the days when we could count on The Addled Shopkeeper to keep us in the loop about new products being developed at Ikelite.
And finally, my apologies to ramaroodle for hijacking the thread, even though we have now discovered one more approach to underwater flash exposure management.
And now the questions:
How does Ikelite envision the cables being used in a typical housing setup? One iTTL cable per strobe, or only one iTTL cable per housing setup with an Y-adapter? Slave strobe use?
Can you adjust strobe power levels with the camera body controls, or only at the strobe head?
What will the cord length of the production version of the iTTL cord be and which existing cords will they be compatible with?
Can you use any of the older SunStrobe models (100, 200, 300, 400 series) and have iTTL exposure management with the new digital cameras?
Will there be a version for Canon camera users?
and
When will they be available? (Hopefully soon…..)
Thanks