Now that the slices are all in place and the length and tempo check out, the stage is set for more advanced tinkering. Click the Preview Toggle button - this will allow you to hear the effects. To the left of this button there are three buttons representing the effect 'lanes' - click all three to bring all the effect controls into view. On the far left end of each effect lane you'll find an on/off button - click these so that they light up blue.
On the Envelope panel, you see a button labelled Stretch. The percentage value determines how far beyond the original length each slice will be stretched - ReCycle will add a decay tail to each slice which comes in handy when you want to play back the loop at a lower tempo. Without these tails, a lower tempo will result in gaps of silence between the slices. The default value is 40% and this is a good starting point as it will allow for plenty of flexibility in tempo, so let's leave it at that.
The Transient Shaper works exactly like a compressor, with all the familiar parameters. The EQ is a 4 band equalizer with Q on the two middle bands. Any effects you use on the loop will be applied and saved into the final file. After applying effects, the loop may sound a little something like this: Effect demo
With Preview Mode activated, you can also take the opportunity to hear what the loop will sound like when played back at a different tempo and pitch.