So, here's the deal. You get three sound-making tools: a loop slicer which automatically slices ANY piece of audio into tempo-matched chunks with envelope shaping; a TB-303-esque bass synth with a choice of filters which can do slides and legato; and a basic XoX-style drum sequencer with a choice of pre-made 'kits' like 'modular synth', 'vintage' and so on. There are lots of cool features like he ability to randomise everything with a single click (like direction and pitch and order of loop slices). The drums can be mixed and matched within a single kit and pitched to taste. The bass synth sounds good although it's limited to square and sawtooth waves. Patterns can be chained together into song-length sequences. All three instruments can be put through a sort of 'mini effectrix' effects patch on which any one effect (reverb, delay, comb filter, sample reduction, delay, tape stop etc.) can be applied on a per-step basis.
The beauty of this plug in is the sheer speed with which ideas can be put together. On its own it's a bit limited, but used as the basis of a track it's got real potential, and the interface is very user-friendly.