Not sure how you came to some of the conclusions you mention...but you are mixing up a lot of things.
As you state...the owners manual covers EVERYTHING that was available in the 525i/iT/530i/540i/iT that were imported to the USA...so yes, the topics that have an asterisk behind them means that not all cars may be so equipped (this is mentioned somewhere in the beginning of the manual). See the text highlighted in yellow (below) that explains what the asterisk means in the owners manual:
The use of the term "Touring" is the name that BMW used to use to describe their station wagons. Mercedes Benz uses the term "Estate" to describe their station wagons. So you will see the word "TOURING" used by many BMW owners and BMW itself...which for marketing reasons called the e39 Touring (station wagon) the "Sport Wagon". Again, this was only used as a marketing ploy due to the negative connotation many have for station wagons. Touring, Wagon, Touring wagon, Sport Wagon, station wagon...all are used interchangeably to describe the type of BMW you own.
You can click on the following link and type in the last 7 digits of your car's VIN (then correctly answer a simple math equation)...and you will get the list of your car's build sheet (standard equipment & how it was optioned):
http://www.rubmw.ru/vincode/eng/
And as you mentioned in your post above...if your car doesn't have the button for tire control...then no...your car doesn't have that feature. Just as if you don't have the PDC button or heated seat buttons down below the IHKA control panel....then your car is not optioned with that feature.
Also, the e39 has TWO different instrument clusters. There is the low instrument cluster (which has the limited OBC) that uses the GRAPHIC display for the check control system. The high instrument cluster has a 20 digit alpha/numeric display which puts up warnings using the PRIORITY 1 & 2 textual phrases. Depending on which instrument cluster you have...will determine what type of warning you'll see illuminated for transmission problems. The low cluster will give you a "graphic" warning and icon...whereas the high instrument cluster will give you a textual PRIORITY 1 or 2 warning (with perhaps an instrument cluster "idiot" light for some warning):