The name comes from the children's game also known as Red Light Green Light.
This is a 1 to 8 multiplexor….or multiplexer if you prefer….with a thru and hold circuit attached to each output. the active output is chosen by whichever combination of the x00, 0x0 & 00x inputs is high. You can put any signal into these, crossing 1V will send it high. In the demo video, I used the /2, /4 & /8 outputs from a Divide & Conquer which gives it a regular 1-8 count. Using any old signals will give a more random effect but patterns will still emerge.
IN is the signal getting processed. This module can be used to process CV and/or audio signals.