The Tensor's speed knob gives you an instant, realtime reverse effect.  Set SPEED to 0% and BLEND to 100% wet for a live reverse effect.  The Tensor analyzes what you play and tries to choose the best time to chop, flip, and splice your signal to reverse what you play, live.

Setting the ON footswitch to momentary (M) mode, you can instantly jump between forward and reverse.  The Tensor is always listening (even in bypass), so when you hit the ON switch it will instantly rewind what you just played.  Use momentary or latching mode for a solo that flips between forward and reverse.  Latching mode does realtime reverse, while momentary plays continuously until it runs out of "tape".

Of course, you can combine tape speed, time stretching, and pitch shifting to get reverse octaves, sub-octaves, fifths, and other intervals, stretched shadows of time, and tape shuttling.

Loop next (NXT) mode gives you precise control over the splice timing.  This dual buffer mode records into the next buffer while playing back the last, completely decoupling the input and output timelines and adding time compression and alternating playback direction to the possibilities.  Use the HOLD footswitch to punch in a specific time (quarter note, one measure, etc.).  The pitch knob will change the playback speed, causing the reversed audio to be repeated or truncated.  The Tensor's controls are always live, so you can flip to REC or OVR (overdub) to loop the last buffer or build layers on top of it.