Just to be clear, since your pedal is out of phase with itself…when the red led is on you do not hear the tremolo and when the red led is off, you do hear the tremolo…Correct?
The tremolo is supposed to be heard when the red led is on, and the effect is bypassed when the red led is off.
I’m not sure how the bypass switch could be out of phase, so let me know if this is the case.
-Brach