The long awaited update is finally here
Apple has approved multitrack and is now in the state 'Processing for App Store', so it shouldn't be long before it reaches your device.

iTunes Store Link

Inter-App Audio - effects can be chained on each track, on the Bus return, and the Master out (*).
IAA Generators - on the Input to each track.
Audiobus 2.0 - Can be used as a sender for any track or master out. Supports saving and restoring state.
New graphics for iOS 7 - improved look is cleaner and less confusing.
Clean waveforms - rendered without blockies on retina displays.
64-bit support - with Neon optimizations and high resolution audio processing.
Dithering - applied automatically anywhere in the signal chain when bit width gets reduced.
Reduced filespace usage - up to 16 tracks before caches kick in on 64 bit devices.
Compressor - new dB reduction meter help you adjust threshold and ratio controls.
Completely rewritten audio engine - takes advantage of the best features of your hardware.
Supports up to 16 inputs simultaneously (USB hardware required).
Loop Points - changing loop points in realtime is now immediate.
Snapping - now you can snap to other regions, loop markers, and punch points, as well as Ruler lines.
Snap helpers - red vertical lines display exact snapping placement.
Song Menu - you can now drag song icons to reorder them.
IN Meter - now displays up to 8 input VU meters on iPad, or 4 on iPhone/iPod touch.

* IAA effects currently support only 1 instance at a time, system wide. In other words, you can't chain the same effect more than once.

Awesome, updating right now!

Woah! this is cool.
Just did a virtual re-amp of my guitar from MTDaw through Bias and back in to MTDAW.
Fantanstic!
Thank you!!!

using AB1

hi,
I downloaded the update but I do not see options chosen for the IAA, no generator in inmput and there is no 'how to choose third-party effects.
thanks and congratulations for the software.

I think I'll be getting sick at work and heading home

@pawnified

What does this mean exactly?

64-bit support - with Neon optimizations and high resolution audio processing.

I wrote more 'times but the moderator seems to ignore my request for help. . .
can you tell me where I find the options for IAA effects and generators?
Thank you.

Looks like an all-nighter. Thanks pwnified.

I don't appear to have any IAA tabs?

iPhone 5

What's up?

Anorton wrote:Looks like an all-nighter. Thanks pwnified.

Try 10 all-nighters in the last month

anfirmor wrote:I don't appear to have any IAA tabs?
iPhone 5
What's up?

I'm really sorry about this, it looks like there is a bug already. IAA is not appearing on the iPhones. I'll have a point release as soon as humanly possible. Apple was pretty quick this time so it shouldn't be more than a couple days. If not I'll use my rush request to get it through.

iPads and iPods are working, the bug only affects iPhones.