From a gentle touch to serious mangling, Chorus functions as both a tone and space enhancer, also offering Leslie pan and pitch modulations. The same Chorus engine is used for Mono, Mono-to-Stereo and Stereo but it is recommended to use the Stereo output chorus for the best most spacious effects and Leslie style pan and pitch modulations. Chorus has only two controls:
DEPTH: 0 to100; Default: 10 This controls how deep the overall detune of the chorusing effect will be.
RATE: 0.10 to 10; Default 0.77 This is the speed of the the modulation time of the detune.
Waves Guitar Tool Rack User Guide.