Expert Sleepers has released Meringue v2.0.

Meringue is a delay effect. Unlike most delays, the delay runs alternately forwards and backwards, rather than continually forwards. It has a filter/saturation section, which will be familiar to users of other Expert Sleepers plug-ins. The delay time and the filter LFO can be synced to the host application's tempo. The phase of the delay and the LFO can also be reset manually.

Meringue costs $19 (plus VAT if applicable) and is available in Audio Unit and VST formats (both Universal Binary) for Mac OS X. A fully functional demo version is available (times out after 15 minutes of use).