bitflipper
 
The only thing I can think of is that it might be referring to the X/Y controller, which allows you to automate morphing from one configuration to another. But that wouldn't explain the reference to an ADSR envelope. It almost sounds as though the text was inadvertently pasted from another product.

I don't believe so - not as far as I have been able to figure out the Melda way.  I believe the X/Y thingee is an uber-modulator.  Actually, it's not a modulator at all.  It's really more of a preset morpher.  At least that's what my study of MPowerSynth is telling me.  Presets have modulator settings.  The X/Y thingee morphs between everything in presets including the modulation setups.  I'll report back if I discover this isn't so.

It all stems a bit from synth programming. Where many modulation sources are feeding destinations. It is in the modulation part of a synth patch that amazing amounts of detail and subtlety can be implemented.
 
That EQ is well above normal for offering those sorts of options. Even with 4 modulators it seems a lot can be done. What I find interesting is the fact an ADSR envelope can be triggered via midi and if you think about the possibilities in terms of sending that modulation source to a number of destinations within that EQ, then some pretty interesting and cool effects would be possible. Especially if you did things like make the EQ ADSR envelope match in a way the envelopes that might be within a synth patch that is also triggering that EQ modulation effect.
 
The LFO options could be used to add very smooth and subtle liquid movement to a sound or patch etc..(not WAH sorry!) Think comb filtering for example and having sweeping or moving nulls. Or two filters setup one on each side of a stereo image and you are modulating each side differently too. Perhaps in sync but different. That fact the modulators can be synced to the project tempo is also cool.
 
You don't have to use any of the modulation sources of course but the fact they are there to me makes that EQ quite attractive. Thanks Mike for bringing it up in fact. It is powerful.

Jeff Evans
 
The LFO options could be used to add very smooth and subtle liquid movement to a sound or patch etc..(not WAH sorry!) Think comb filtering for example and having sweeping or moving nulls. Or two filters setup one on each side of a stereo image and you are modulating each side differently too. Perhaps in sync but different. That fact the modulators can be synced to the project tempo is also cool.
 

True enough.  But if that's the sort of thing I'm seeking, I'd be very much inclined to include an instance of FabFilter Volcano 2.  Doing this with EQ just seems like using the wrong tool for the job.