SYNC RATE: 2 to 1/32t (double whole note to 1/32nd note triplet); Default: ½ (1/2 note). When Sync is set to On, Sync Rate determines how the plug-in interprets the beat. A shorter duration note will give a quick flange while a longer duration will make for a longer, slower flange effect.
DELAY: 0.1 to 25ms; Default: 2.2 This is the length of the Delay added to the signal.
FEEDBACK: 0 to 100; Default: 0 This controls the amount of resonance in the Flanger. It gives a “rubbery” or sweeping jet-like sound at high settings.
STEREO: 0 to 100; Default: 50 Stereo sets a different phase for the LFO (Low Frequency Oscillator) for the left and right channels. This is essentially a time delay in the oscillation. A setting of 100 = 180 degrees.
Waves Guitar Tool Rack User Guide.