A panner in 2D space. It can place object and listener in fixed positions, or make the object travel in an elliptical path. The sound arrives at each ear delayed and attenuated by the distance to the object. The gain of a shelving filter is modulated by the distance and position of the object with respect to each ear.
The event smoothers in the main core cell are set to a rather long time of 100 ms to make the UI controls actually usable.