Code Puller

It should work fine. The data connector is on the passenger side on a 94-95 GT (same place as a fox but mirrored).

Good luck.
 
Having no cats won't affect your EGR unless your exhaust pipe has no provision for the AIR tube to attach. The codes would only be thrown for an OBDII car with no cats, because it has four oxygen sensors; two upstream of the cats, and two downstream to make sure the cats are working properly. The codes you retrieved have me somewhat boggled however. Did you pull two or three digit codes? 5.0 Mustangs in 94-95 should have three digit codes, unless your car was converted to the Fox A9L (or A9P) EEC module, in which case you would indeed have two digit codes.
 
OH NO, this is the frankenstangin car, isnt it?

In the past, I had given up trying to figure out what mixture of components it had and tried to help on face value of posts alone.

Good luck.