Yes, there are ways to mod on a 360. But you generally have to hex edit and it's far too complicated process for such little gain. The most you could do is add items into the game world, you can't accomplish most of what you see in PC mods by hex editing. I suggest you just forget about it, and get the PC version if you really want to mod.
That said, this thread has a 100% chance of being locked sometime soon, because we can't talk about piracy or console modding on this forum.
Ah, but that only entails talking about it's possibilities, which we aren't, we're advising against
which makes this thread a little useless now..
which means it'll be locked..
yeah..
:facepalm: