Catalyst produces hybrid waveforms by taking two oscillators, applying half wave rectification then sticking the results together to form some unusual waveshapes. The focus of the synth is producing some interesting, dynamic waveforms. The concepts may not be that familiar, however the synth has been designed so that each control does something meaningful and useful. There is an in depth manual on the developer's site explaining what's going on 'under the hood' and 64 presets to get you started.
The short sound demo is created entirely with Catalyst. No external effects used, just a little mix compression.