Very much time is spent here on LD comparing feature sets between loopers, as if there are magical "must haves". Some say Undo, some say feedback some say straight into overdub. The truth is that most loopers DO conform to a certain sub set of features that have been around since the EDP broke the mould for delays. BUT... you will not find a box that will do everything as you want it, and the more loopers you have owned the less friendly you are about new devices with NEW ways of doing things, basically you just want the same as you have always had (plus more).
The Octo track has always interested me (although I cannot afford one) precisely because its NOT the same as other loopers, you WILL NOT be able to do what other loopers do, you will no doubt find workarounds, but what it does offer is WAY MORE OTHER STUFF! I suggest that instead of concentrating on the one thing that it won't do, you should dive in and get your hands dirty with the stuff that NO OTHER LOOPERS CAN DO!
OK, so you fluff an overdub, but if that overdub is suddenly chopped up and twisted and stretched and warped, as some pre-made tracks kick in, with filters and distorters and wobbles and other kerrrazeee stuff... I think that your "fluff" will not only seem intentional, but it will seem cool as f***!!!
I too tried to read the manual, but its really impossible to gauge what its talking about unless you have the device infront of you, it seemed to involve a bit too much pre-production, for my tastes, but what I have heard from the box seems very interesting...
Dont give up on it soo fast, remember your frustration with it, post your requirement on the elketron forum, and work on other stuff... I bet, when they bring out an undo/redo feature, I wager that you will have forgotten about your initial problem, because you will be producing some cool assed shit.
After 10 years with the EDP, I somtimes delve into the manual, to find something I havent tried yet...or much... "expert Mode" for example, or stutter... A deep product is always gonna give you much more happiness in the long run than a simple stand-alone REC OVERDUB PLAY UNDO pedal.
I think you have made the right choice in your purchase, just dont expect to much overnight, wait 10 years, and see what you think then
Good luck!
Mark