This code needs to map from the FPCW 2-bit encoding for rounding mode to the 2-bit encoding defined for FLT_ROUNDS. The previous implementation did some clever swapping of bits and adding 1 modulo 4 to do the mapping.
This patch instead uses an 8-bit immediate as a lookup table of four 2-bit values. Then we use the 2-bit FPCW encoding to index the lookup table by using a right shift and an AND. This requires extracting the 2-bit value from FPCW and multipying it by 2 to make it usable as a shift amount. But still results in less code.
Nice hack. :)
We could use a code comment to explain this better:
0x2d --> (0b00,10,11,01) --> (0,2,3,1) >> FPSR[11:10]