I was hunting around and i found this:-
"Here's a nice workaround that can help you achieve something that you might have missed otherwise. Normally you can assign one modulation effect with your POD XT- or Gearbox- series gear. However there's a way of using two modulation effects at once. Thanks go out to Crusty Old Rocker for sharing it through Vettaville.nl. Here's his complete story. "I stumbled across a neat little work around. I needed a tremolo (tremolo effects are in the modulation effects category) combined with a chorus (which is also in the modulation effects category) so I can't have tremolo and chorus together. Right? Wrong!!! I remembered that the Electro-Harmonix Memory Man is a combination of delay and chorus. So I set up the Opto-Trem and added the Analog w/Mod to it. Now I just needed to get rid of the delay. I turned the delay time to minimum and feedback to zero so all I'm left with is the chorus.Now, before you jump in to tell me that the chorus of the Analog w/Mod is only applied to the echo and not the direct sound, I'd like you to try this yourself. Turn off any modulation effects and just turn on the delay and select Analog w/Mod. Wind the delay time right down to minimum (20ms), turn the feedback to zero and here's the important part, set the Mix to 50% less or more than 50% reduces the amount of chorus. Now adjust the Mod Speed and Depth of your chorus to suit your taste. By the way, this same trick can be applied to the Phase Echo to add a phaser effect to another modulation effect. Now just add a modulation effect from the Modulation category and there you have it, a chorus or phaser that you can add to any other Modulation effect. I don't know if others have discovered this workaround before me but I just thought that it is worth sharing." We've added the tremolo/chorus patch for your convenience. "
It can also add some depth to the "rotary speaker + horn" effect... essentially modding a mod:) It's not up there with B4 or anything, but it makes it usable. Drive--->Rotary w/mod--->mod delay(no delay)--->Eq. If you need a more stereo patch...put the mod delay first.
The full thread can be read here -> http://line6.com/supportarchive/thread/47097
Peace