This is the Shoot the Moon tremolo, a pared-down version of the Tremulus Lune. It's an optical tremolo with an excellent and transparent pre-amp (there's a HUGE amount of clean boost available) and a wave shape knob that goes from square wave to almost sine wave (though it's a pretty subtle change on this version). It goes from 0 depth all the way up to stuttering and gets both slower and faster than your favorite blackface amp. :)
This was a group buy project that originated on the Build Your Own Clone forum, and it's another Effdub project.
Besides showing most of the settings on the pedal, I have also compared it to my Ton King Imperial's tremolo, which is bias-modulated, to show the difference between these types of trem. The amp's trem is a bit more of a throb (it's a true sine wave, after all) and tends to be deeper on similar settings, but it can't get nearly as fast. The amp tremolo also cycles asymmetrically; however, the Shoot the Moon is much better at doing "shimmer" sounds.
Overall, I like this design. I get more fine tuning (and weirdness if I want) out of the music PCB Tap Tempo Tremolo that I usually keep on my board, but it's hard to find a "wrong" setting on the Shoot the Moon, and people in want of a simple tremolo to build would like this design. I think the boards might be sold out by now, but it can be duplicated just by altering the Tremulus Lune design a little to omit the extra controls and subbing in some more commonly used component values.
Visit my web site to see a picture of it and the other things I've built, and check out my other videos for lots of DIY sounds.