Here is what was in our iPad Musicians FaceBook Group from SuperDan, one of the developers…
“Music IO version 1.20 is queued for review with Apple. If the Gods of Time allow us, the next version will be out tomorrow (Friday) or Saturday. Update text follows, but the bigs news is multitrack audio and VST/AUs on Mac.
Music IO Version 1.20 brings several advances to the only professional solution for MIDI and audio over USB.
Huge improvements to audio:
• 4 tracks of audio from iOS to Mac
• Route up to 4 instruments and one effect per track
• Crystal-clear, 32-bit uncompressed audio and very low latency over USB
• VST and AU plug-ins on Mac, in both 32- and 64-bit versions: route audio from any track to any track on your DAW
• Various performance enhancements including glitch reduction and even lower audio latency”