It was stated early on that there would be a looper function. It appears to be built in to the KFC.
One of the things I am most looking forward to is the idea about having only 4 footswitches for the stomps/effects but allowing them to switch on/off more than one stomp/effect at a time will be nice. Keep the board compact but very functional at the same time. On the Boss GT series as well as the POD, you can have the foot switches turn on off multiple effects. It will be very nice to turn on a delay while turning off a tremolo for instance.
After using HD500 some years this has become kinda meat and potatoes feature with stomp switches. Along the capability controlling single effects and amp parameters with the controller, even simultaneously with expression pedal if you wish.
As of speaking HD500, I'm really liking it's '2 expression pedals in 1' approach where you switch between two different modes by pressing the expression pedals 'toe' switch. Would like to have some similar pedal to use with KFC if there exist such commercial products.