After doing some research, I found out that most power supplies use the TL494 PWM controller that suits well this application. My PowerTronic uses it too.
Its datasheet can be found here:
http://www-s.ti.com/sc/ds/tl494.pdf
This links shows some schematics on how the TL494 is used.
http://www.nutsvolts.com/PDF_Files/PSRepair.pdf
Not much.
I think the error amps are where the feedback is sent.
I'll have to re-open the PSU, and this time, measure signals at the pins of the TL494.
I processed another MBM log file that was logged while various applications were runing (Sandra, mpeg4 and toast). More fluctuation is shown, with still a clear pattern between 5V and Vcore.
http://www.geocities.com/alochin/temp/log1b.gif
I hope I'll figure out hot to remote sense the 5V, I am sure it would stabilize the Vcore.