Buffered saves the audio from its input into a buffer which it then reads from, you can alter the read position within this buffer over time using the buffer map window. For instance if you have the mapping reverse from the initial position, this will reverse the sound played.

You can do things like reversing sound, low-fi pitch shifting and other more eccentric things, there is a bank of 8 presets showing some possible effects.

The controls are all MIDI mapped and allow you to alter the mix between the normal output and the buffer mapping, the size of the buffer, sample & hold of the buffer, the buffer position smoothing and buffering windowing.

There isn't any information on their website yet so find out more in this thread in their forum.