I've had the same issue with my Timefactor occasionally. The email I got from Eventide suggested all the same things about updating software, which did nothing, and changing the settings so that you have to turn the knobs a lot before they start to react. After reading that some other folks were having the same issue, I took apart the pedal and sprayed some contact cleaner where the ribbon cable attaches. That has been pretty successful, and I have rarely had any problem with it since.
But clearly, this is something that happens with these pedals, and I do wish Eventide would acknowledge that there is an issue and perhaps consider fixing or replacing the pedals that have the problem. I spent a lot of money on my Timefactor. I use it all the time at shows, and I have had it go crazy once during a set. It is the only negative thing I have to say about an otherwise fantastic pedal.
