medoomi wrote:Is there any help file or description that can help me understand what "Wet level" and "residual level" actually mean/do?
Not as far as I know.
"Wet/Dry" is fairly standard terminology with effects.
"Dry" means the original, unprocessed sound.
"Wet" means the effect/processed sound.
Many effects allow you to adjust the proportion of original (dry) sound to the amount of processed (wet) sound.
"Residual level" is a made up term for this effect.
"Hard limiting" a sound chops the tops/bottoms of the waveform flat - this produces a nasty sounding digital distortion. The "residual level" control appears to allow a proportion (a residual amount) of the peaks to remain, so the peaks are not cut off flat, but just "shrunk". The more "residual level", the less the peaks are shrunk, so the less harsh (weaker) the effect is.