Okay, so. Was checking it out, having some problems getting it on my phone (I was a bit outdated, oops) - contacted Mauro, and he helped me out. Awesome guy (:
You can download the app and 3 of the loops for free. But its introductory price is $5 (til tomorrow! 8/15/13) for all the loops -- 300 in there right now, from 21/8s, to abaquas, to bossas, calypsos, etc etc, so. The purchase is "infinite" meaning that any loops he adds from here on, you get them too. Sweeet. Loops were programmed with Addictive Drums, so they sound killer.
Presently it's just loops and the ability to modify tempo +/- 10%, but it's in its infancy, and I imagine it'll keep getting better. Really nice practice tool for latin/jazz style beats, or coming up with ideas, and killer price. http://www.projazzlab.com/