However, having a look at forums on the Tracktion site, and on the KVR site, it seems like the new version is barely beyond beta (if at all). Curiously, it has garnered very enthusiastic responses from people who have purchased the product and are having all sorts of problems! Confusing.
It's surprising that they've stayed with a very dated looking interface, and are stating that it's a considered choice, which is meant to emphasize that it does not emulate hardware. That seems like a stretch.