Just bought one a couple of weeks back and have been using it since then. The tone seems to do nothing as far as I can tell. A few people have said this is a Klon clone, and it does have that sound at higher gain settings. To my ears its like a wider TS pedal if you put it after a hard clipper (think HM-2/Metal Zone) as it still gets that cocked-wah sound.
I put some sound examples up here if you want to hear them. Its not much, as the pedal doesn't do that much to be honest, so there are 3 sounds I put through a Helix (iirc a v30 speaker/Fender Princeton model). I found it worked ok into a Karma Suture fuzz, too, sort of made it glassier and oddly gruntier... the volume knob just barely reached past unity on my unit, so possibly thats why it reacted that way.
I might open it up at some point and mod it. Another oddity is how it has 3 different potentiometers - all different heights. So the knobs all sit at different levels. Changing those out and sorting the tone control would be relatively simple.
