The wire would be coming out near where that boot is. If you don't have any wires going into the rack then you don't have Magnasteer. Either that or when the rack was replaced they installed a non-variable unit. There were 2 different racks for these cars. If you look at the top of the trans. where the linkage connects, is there an empty 2-wire black plug around there somewhere? Worst case take a pic of the PRO sticker on the underside of the trunk lid and post it here. We can decode what options you have from that.
And no, I wouldn't worry about the boot. Mine split like that when I replaced it and it's been fine.
