Full Phase is a unique phase based effect. It uses an inversion of a stereo channel phased against the opposite corresponding channel to isolate common stereo field characteristics. This aspect of your audio can be controlled via the "st. (stereo) field" slider.
There's a comb filter that can add a nice character to the output via the "character" slider.
Phase shift can be accomplished using the "shift" slider in combination with the horizontal "position" slider to place the shift anywhere within the stereo field.