You can use it on stereo and mono tracks (at least with Cubase SX, not all other hosts tested yet). The parameters of each of the four stages can be adjusted separately.
The stages only differ in basic delay adjustment with the shortest left and the longest right in a range from about 10ms to 50ms. You can disable unused stages to reduce CPU consumption.
A "Dry / Wet" slider allows to set the desired amount of effect and the "Out +/-" slider can be used to match the overall level of sound when comparing A / B with the source material. Further more the effect can be disabled with the "FX On / Off" button ...