Please see the relevant "Ver. 1.2" section there for more info. - in short, an alternative "addon patch" is now provided that strips away further unnecessary ring levels from the five budget entries in the compositescenerybudgets file, while slightly improving graphics at great distances - thus the name "4RingDim" since it gives four rings per budget level.
Interesting approach here, VonS. With this version, it looks like you are removing the innermost ring. Usually, the innermost ring provides the highest visual quality for objects closet to your aircraft. It appears you have compensated for this by increasing the LOD value for the "256" ring to compensate for the lack of the "128" ring. Also, unless you are flying very close to the ground, most people will not notice the slight loss in visual quality between the 128 and 256 rings.
I might also suggest increasing the RingDim values for each ring ever so slightly. I don't think this will have much of an impact on fps, and should extend the distance for detailed objects slightly.