From Matt's blog at http://line6.com/blog
Line 6's Propellerhead Product Specialist Matt Piper demonstrates how to make a Ring Modulator effect for guitar, using the filter section of Reason's Malström synthesizer.
The software used in this video was Record Reason Duo by Propellerhead. That product has since been replaced by Reason 6.5. Reason 6.5 has everything you see in the video plus powerful new features including new effects devices, thousands of new presets, sounds, and loops, and support for 3rd-party Rack Extensions.
Here is a link to the entire playlist of Propellerhead videos by Matt Piper at line6movies: http://www.youtube.com/playlist?list=PL805B781589CF801D