The Waveslicer can be described as some kind of special waveshaper. It can cut a wave into slices and move those slices up and down.
It simply does that by adding an offset at a defined point of the wave. This point is the threshold, set by the Pulsewidth pot. The amplitude of the offset is set by the Amount pot.
So for example if you have a sine wave of 10Vpp (-5V to +5V) and set a threshold of 2.5V and an amount of 1V, it will add an offset of 1V as long as the wave is above 2.5V.
To make it all symmetric, all that is also happening on the negative half of the wave, which means that in this example you will also have an offset of -1V as long as the wave is below -2.5V.
All this is achieved by using two comparators in parallel, one with a negative threshold and one with a positive threshold. The output of the comparators goes through a VCA and is subtracted from the original input signal in the end.
To make it all a bit more interesting, this is all done twice at the same time, so there are actually two waveslicers working in parallel.
Also, every described parameter is fully voltage controllable.
The maximum threshold of both sections can be altered by the Range pot. I added this option to be able to set an adequate range for the Pulsewidth pots. For example if you put in a sine wave of +/- 2.5V but the maximum threshold would be 5V, the pots wouldn't do anything above 12 o'clock. So you can set a maximum threshold of 2.5V and be able to use the full range of the Pulsewidth pots.