There's a lot going on, but basically: a quad resonant filter acts as a complex oscillator (each pair of filters FMing the other), sent out through a limiter, VCA, into mixing section of Cold Mac and out to the computer. Cold Mac has a feedback path through its wavefolder back to the left filter input, and the limiter is also going back to the right filter input.
I hate patch notes that are just gear shopping lists, but Cold Mac is so unique that you can't really talk around it.
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