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New in Version 3 Software is

Output Level Control

TimeFactor now gives you the ability to individually adjust each Preset’s Output Level.

In PLAY Mode, holding down the Left Footswitch for 2 seconds from
Bypass state puts the unit into Active and also puts the unit into
Preset O/P Level Adjust Mode. While the
footswitch is pressed and
held the display will show “OP 0dB” (default). While continuing to hold
the footswitch down you can optionally turn the Encoder Knob to adjust
Preset Output Level from –20dB to +6dB in 1dB increments. Preset must be
saved to store this setting.e

To adjust the Output Level in BANK Mode, press and hold the Left or Middle Footswitch while in Bypass.

For info on updating software, visit this link.