Live Edit Mode is mainly intended for making quick edits on the fly. In Live Edit Mode you can turn on and off Channel Rotation, change the MIDI output channel, transpose the keyboard, go into CoMA mode, turn Channel Pressure and Poly AfterTouch on and off, set the bend range, and send program change messages. It should be noted that these edits do not persist after changing presets or unplugging QuNexus. Any Live Edits will affect Keyboard Layer only (not Controller Layer).
To enter Live Edit Mode hold the Shift button for approximately 1 second until all the LEDs pulse on and then off. To exit just tap the Shift button again. For more information about Live Edit Mode, see the QuNexus Manual. There you will find a full step-by-step guide for using Live Edit Mode for each of the purposes listed above.