The mod allows players to follow playable characters around maps, snapping back to target-view when firing range weapons. It's not the first time a Borderlands game has been modded to allow for third-person view, with TFXLive explaining in comments how easy it was to mod the original Borderlands, while Borderlands 2 was more complex.
"This uses a fixed in-game camera behind the character model that exists in most Unreal Engine games," explained the modder. "In theory any game that uses Unreal Engine most likely has a camera that sits behind the character in third-person view typically used for debugging and camera effect unless the devs remove this in development. But even if the third person camera exists, not all first person unreal games have a character model to look at."
Released by 2K Games earlier this month for PlayStation 3, Xbox 360 and Windows PC, and developed by Gearbox Software, Borderlands: The Pre-Sequel is the third game in the loot-heavy RPG-like shooter, set chronologically between the first two titles.