From the release notes:

New Features

• Added the ability to move the cursor to the next transient.
• Saving OGG/Vorbis files (only reading was available).
• Reading WMA files.
• Added the ability to disable the automatic scrolling when playing.
• Added the insert silence effect.

Fixes and Improvements

• Improved the audio units management.
• When loading a split multichannel file, the document name was Untitled.
• The audio units GUI would not reflect the changes when a preset was loaded, on Leopard.
• TwistedWave would fail reading files that were several GB in size.

Transient detection

Among the new features, there is the ability for TwistedWave to detect
the transients in the document. Transients can be single shots from a
drum in a percussion loop, for instance. In the capture below, the
individual shots are clearly visible. It is often necessary to select
one of them to cut and paste it, or to apply an effect to a given
shot. However doing it accurately requires quite some dexterity.

TwistedWave is now able to detect these individual shots
automatically. Just press the Tab key, and the cursor moves to the
next transient. Shift-Tab, and the area between the cursor and the
next transient is selected. This is how the shot in the figure above
could be selected.