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Limit or wipe out the highest frequencies, near the Nyquist frequency.
Slew2 doesn’t act anything like Slew. What it does, is it puts a particular behavior on the extreme highs. Set to an intermediate value, it’s an acceleration limiter. Slew2 produces a very natural-sounding brickwall filter exactly at that frequency, with the response falling off faster and faster until it’s totally gone when you hit the Nyquist limit (digital sampling theory: at 44.1K (CD quality) it is 22.05K where the treble cuts off).