We haven't released a TimeFactor update. My colleague, Russ, has been busy hammering away on an improved Looper, and he's been making great progress on that. But we're still a while away from having a beta ready.
Yes there will be reverse in looper, it's a bit behind schedule (we had said April, and it's May 1st). I'm hoping to be finished with it in the next few weeks. At that time we'll go to beta with the new looper and the H9 Control-ability of TimeFactor.