Not sure which part you have trouble with. There is not really much ‘technical’ jargon in there. FS = Flight Simulator. MS = MicroSoft. FBW = FlyByWire (the name of the group that are working on a version of the Airbus A320). The FBW installer is a simple small app downloaded from the website that takes care of installing any one of 3 versions of the plane, plus it takes care of regular updates. The ‘Thrustmaster kit’ is a combination joystick (known as a sidestick) and the throttle quadrant.
If you would care to point out which jargon bits you are struggling with, then I will be more than happy to break it down and explain in more detail.
Glenn