Manual states this: -4 thresh, 20:1 ratio, 5ms attack, 200ms release (should cap at -6)
Also, is the channels are "linked" then so is the limiter.
But, this doesn't explain your waveform, and now your results do look pretty weird. Except for very, very fast attack transients, you shouldn't ever see anything above -6. Weird. Is it possible the limiter was only engaged on chan 1? Is that even possible, that could explain it. The asymetical wave is from the horns, but only chan 1 was limited. Otherwise, that truely is weird?
I wrote this earlier, but I think I got the 4 and 6 mixed up. But regardless, someone please tell me that with a -6 thresh and a 20:1 ratio with a 5 ms attack how anything gets much farther than -4? It'd have to be one hell of a loud and fast transient. So, for whoever said they still clipped with the limiter, I find that really surprising considering the specs of the limiter.
That said, now that I see I transposed the -4 and -6, that could potentially explain this. For the one channel nothing much makes it past -6, so not much limiting there. For the other channel, the one side of the polarity seems to be going past -6 but the other side isn't, which can be explained by horns, but he said there wasn't any horns in that clip. But regardless of that, it seems like there was an asymetrical waveform (could be coming out of the PA that way) that only got limited on the one side, because it was only that side that went beyond -6. And if you look at it, it seems like it got close to -4, but never beyond that. So that seems reasonable. It just looks a little weird because the other side of the polarity so perfectly holds its level that it looks like it was limited too -- but given the specs, it doesn't seem like it was in range to be limited yet.