More like DSP, along the lines of Finite Impulse Response (FIR) multipath channel compensators:
http://dsp-book.narod.ru/spra140.pdfhttp://www.cplire.ru/rus/informchaoslab/papers/iccsc04ak.pdf A multipath channel has a direct path and other paths (echoes) with different delays and attenuations, where the attenuations may themselves be frequency-dependent. For studios, this translates to the idea of the mirror technique in your room, tracing out the line path that waves take from your speakers to your ear(s). The compensator for multipath uses the information in the main and echo paths to create a filter (a convolution operation) whose coefficients equalize out the echo paths and leave the main path as much by itself as possible. In the second paper above, the multipath channel's impulse response is in Figure 5, and the compensated result is in Figure 7. The spike in the second figure is what you want, and the junk along the baseline is what's left.
Techniques like these can actually compensate for echoes that produce
complete nulls in the frequency response. It sounds weird, I know, but it's because they operate in the time domain. The lit from IKM and MathAudio don't emphasize this, but this has been "the way to do it" for, like 20+ years now. Perhaps they emphasize the frequency domain because they're using it to apply a type of constraint that the user can specify over the process, to limit over-compensation at certain frequencies, for example.
Edit: What's really new to what they are doing, that I can tell, is applying this tech to the case of studio acoustics, accommodating and optimizing over multiple mic positions, and adding the constraint of "target responses" specified in the frequency domain *amplitude* response, and of course, packaging it as a VST plugin.
On waterfall plots: As long as the room is not too reverberant, the above techniques act to convert the cluster of reflection impulses to a single main-path spike, but only at the measurement point (the mic). Widening that point out to the size of a watermelon is challenge enough, going wider than that is where I'd like to see the proof in the pudding.