Yeah, perhaps this will help:
Hood cable failure point / how to open hood manually upon cable failure - Bimmerfest - BMW Forums
Looking at my X5 (it was at the dealer today for a recall, so I couldn't look until now) you can see the two cables 'join' at a small, elongated square box (in diagrams and pictures of the other car). It appears you can take off the fender liner and at the top you can access this junction from the wheel well. It is perhaps 4 inches from the fender line right at the edge of the engine compartment (where the hood joins with the fender when closed).