Here's what I want to do: I want Loopy to delay all the incoming audio by two beats. I don't want to monitor the audio coming in through the audio interface (that will be handled by a different device), and I don't want the audio to repeat more than once. Basically, I want it to work like a delay send with the delay time set to a half note, and with the mix set to 100%.
So I set the time signature to 2/4 and I set the loop bars to one. I turned off input monitoring, I turned on "overdub after record," and I set decay to 100%. But it still seems to be monitoring the input, and the loop is repeating more than once. Is this as close as I'm gonna be able to get to what I want?