I use the KP2 in the fx-loop mode, the problem doesn't seem to happen in direct mode.
Problem: Use an effect like reverb and hit HOLD, the effect holds for a period of time then cuts out. Touching the pad produces no effect.
Solution: Change effects or power off/on then it works again.

Observation1: When plugging headphones in to the jack on the KP2, I can monitor what is coming out... The sound is loud when it's working, when it cuts out the effect/pad is still working but the level has dropped to almost nothing (have to turn the headphone volume up alot to hear it)
Observation2: The problem doesn't happen as much if the "FX Depth" knob is turned all the way down. Turning the "FX Depth" knob while the effect is in the HOLD state instantly causes the effect to cut out / sound level to drop.
I use the effect HOLD as an example only, this problem has also happened when I'm just touching the pad, I'll be in the middle of a phase sweep and *poof* the effect it gone.
I have done a factory reset on the unit, didn't change anything... seems to me that the FX Depth knob is connected to the problem, but from what I've read that knob shouldn't even do anything when using the unit in fx-loop mode.

Has anyone here experienced this problem or can you try what I've described and see if your KP2 does this?
Thanks!

- JW