i think the FX section is still screwy in version 1.1.
version 1.1 says it gives you the option of "touch" or "latch." "latch" is more like "always on." if, for example, you use select "latch" then use the Slicer Reverse 1/4 and let go it still does the effect. however it doesn't let you really "latch" it because once you switch to the filter it stops.
it will allow you to go from one slicer effect to the next slicer effect though. for example, if you have "repeat" going and you hit slicer again (while in "latch") it goes to the "tape" effect and slows down. i don't know; the FX section just doesn't seem right.