Basically, both plug-in instances are identical but the current Acqua engine can work with long audio buffer or without any audio buffer.
The instance without audio buffers, zero-latency or just ZL, does not have any audio buffer pre-loaded and will process the audio without any delay, so at the same time CPU load will be higher compared with standard non ZL instance.
The idea behind a ZL instance is to give users the option to run Acqua Effect products with minimal latency, useful for example for direct monitoring.
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