Seems like there have already been threads on this, but that the spillover only worked if you were going from two patches of the same delay type. Or maybe if you were only using one of the two delays – I cannot recall, but thought that I would give you something to experiment with. Sorry, this may not be of much help. Also, I posted this so that you would know that people actually read these posts 🙂
Generally speaking, it has spillover. But it's not working properly. In order to save processing power or for layout reasons, the spillover is pretty short, but at least it's not totally abrupt. If you're using a setting with a lot of repeats and switch to another one, it won't sound like you might want it to sound. It gets cut off pretty harshly and loses sound quality as well.
One of the weaknesses of the TF, but the overall greatness of the pedal makes up for that IMHO.