We report on simultaneous Chandra/HETGS and RXTE observations of the transient stellar-mass black hole GRO J1655-40, made during its 2005 outburst. Chandra reveals a line-rich X-ray absorption spectrum consistent with a disk wind. Prior modeling of the spectrum suggested that the wind may be magnetically driven, potentially providing insights into the nature of disk accretion onto black holes. In this paper, we present results obtained with new models for this spectrum, generated using three independent photoionization codes: XSTAR, Cloudy, and our own code. Fits to the spectrum in particular narrow wavelength ranges, in evenly spaced wavelength slices, and across a broad wavelength band all strongly prefer a combination of high density, high ionization, and small inner radius. Indeed, the results obtained from all three codes require a wind that originates more than 10 times closer to the black hole and carrying a mass flux that is on the order of 1000 times higher than predicted by thermal driving models. If seminal work on thermally-driven disk winds is robust, magnetic forces may play a role in driving the disk wind in GRO J1655-40. However, even these modeling efforts must be regarded as crude given the complexity of the spectra. We discuss these results in the context of accretion flows in black holes and other compact objects.