Spectron level meters display the input and output level for the left and
right channels.
Peaks:
By default, the meters will hold peaks. You can configure this in the Options dialog,
which you can access by right-clicking (under OS X you can also ctrl-click) on
the level meters.
To reset a
peak that is holding, click anywhere on the meter.
Clipping:
Above the meter is a single red LED that serves as a clipping indicator. If the level reaches 0 dB at any point, this LED will light up and remain lit until you double click anywhere on the meter.
Independent Left-Right Gain:
By default, left and right channel gain is "locked" so that both channels are adjusted together. To set independent left-right gains, click the lock button below the level meters. This will unlock the channels so that you can adjust the left channel independent of the right, or vice versa.
Input/Output Meter Options:
You can set the Input/Output meters options by opening the Options Dialog and selecting the I/O Options tab. You can also open these options directly by right-clicking (under OS X you can also ctrl-click) on the Input/Output Meters.