Ok, so mine showed up today. Matt may not be fast, but he's reliable to have done it right*, and I'm so happy with it. It sounds as delicious as the products of it's namesake.
I think it may be (some type of) an auto-cycling wah in front of a phaser. I haven't even begun to look at the board other than to look at the message printed on it. I imagine if I did start to try the trace the circuit, I'd get lost quickly (and maybe eaten by something). But when when the guitar is direct into it and I set the rate and the width right, it sure sounds like someone cranking a wah back and forth in front of a phaser. When it's got a fuzz in front of it, it starts to sound like a filter in front of a phaser. Of course, when you're not trying to figure out what it actually is, all the knob positions provide wonderlands.
Either way, half the mystery of these things is figuring out what exactly Matt sent you this time. Whataphaser seems kind of clear for the series, but then again he could be misleading us.

The old one-off mystery effects (and several of the old monthly series) didn't even label the knobs, after all. I've got one of the last of the one-offs, and It's a delay just labeled with question marks everywhere (seriously, it's name is "???????"). So, a name goes a long way. No matter what the first stage works out to electronically, at least I know it's a phaser.
*Just like Whataburger, it may take forever to get it, but they made it for **you**. My sister would roll two joints for one trip through their drive through when I was in high school. We'd light them when we got in line, and they'd only be a memory by the time we paid. Worth. every. minute. - and we'd be perfectly prepared for absolute deliciousness. I had a jalapeno cheeseburger from there yesterday. Oh, if I had only really understood the beauty of onion rings in my youth. All the wasted years...