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From BBE:

The BBE 482i is a dual channel, single rack space device for use in -l0dBu line level applications. For each channel there are one pair of Lo Contour and Process knobs plus a 5 segment LED output level meter. A single function button switches the BBE process on or off in both channels, which is useful for comparing the processed sound to the unprocessed sound. An LED next to the function button glows green when the BBE process is on and yellow when the process is off. The Lo Contour controls are for adjusting the level of phase corrected low frequencies in the program material. The Process control is for adjusting the level of phase corrected high frequencies in the program material