This is clearly the companion module of the Gaussian to generate rhythmic patterns and much more. It can nevertheless be used alone to build up complex IDM (Intelligent Dance Music) rhythmic patterns from a single ticking clock. Two stages of Boolean logic operators are cascaded allowing all kinds of operations between the incoming signals.
The latching function let you use a dedicated clock to latch the status of all gates on the arrival of a trigger signal up to the new one (or using the push button). It could be used to re-synchronises random signals. This module is fully analog and can work up to audio rates with no latency.