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No compensation in the ECM - both tires would work just fine. The speed error is well within factory specs, speedometer tolerances - so nothing to work too much there.
Keeping in the 14" wheel size - I'd run a 175/65-14, 185/65-14 or 195/60-14 depending on the tires I got to choose from.
For most cases, I'd tend to prefer running a slightly wider tread and lower aspect ratio = wider contact patch, shorter patch to enhance handling and cornering / braking and acceleration. For winter tires - I'd tend to prefer running a slighter thinner tread and taller aspect ratio = narrower/longer contact patch to chew down to through the snow/ice.
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2002 Corolla S, 1.8L 1ZZ-FE VVT-i
2003 Matrix XRS, 1.8L 2ZZ-GE, VVTL-i (RIP)
2009 Matrix XRS, 2.4L 2AZ-FE VVT-i
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