You’re not missing anything - that’s the classical implementation of inner-loops from @tehn’s original mlr. I don’t have any issue with the ‘performative’ element of such a gesture, as mlrv has always been about focussing entirely on performance (rather than composition).
The idea you propose is certainly interesting and has appeared in a number of recent monome step-sequencers in various forms, but it won’t make it into the mlrv update. The code to handle button presses is already seriously overcomplicated and honestly unsuited to visual-code (would really need a text-based rewrite).
Of course the software is open-source, such that users with different needs to my own can manipulate it to their own needs.
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I am now working on a simple compatibility update to get everything working effectively in Max 7 & 10.9 / 10.10 (maybe even Win8?). I will be building standalone applications where possible to avoid the bulky max project and have a higher likelihood of success for first-timers.