1) yes sorry, lspci does not work, my bad. Simplest way to get your touchpad version is:
You get a kernel log message every time the psmouse module is loaded. The version of your touchpad is given in there as a number. The correspondance to actual named versions is in sentelic.h. For example for me it's like that:
My touchpad version is "14" corresponding to FSP_VER_STL3888_C0.
[376632.331405] psmouse serio4: sentelic: Finger Sensing Pad, hw: 14.3.1, sn: 58037, sw: 1.1.0-K
2) Basically you do have to recompile at least the kernel module. If you don't have already a compiled kernel, you have to compile one which takes a while. If you already have a compiled kernel, just apply the patch, then issue the make command. It will be short because it'll only recompile the psmouse module psmouse.ko. Then you can simply replace the module in the installed modules tree which is:
IMPORTANT: please download http://sentelic.pkbd.org/diff/3.7/diffoutput.txt to get the latest version of the patch.
This new patch is much simpler for the same effect.