The first channel is a very dynamic crunch booster witch retains the characteristics of your instrument, just like a good overdriven tube amp.
The second channel is the same one as the Push-uP, a very low noise clean booster with an efficient tone control. This booster reproduces the most subtle nuances of your playing with more power and more definition.
Pushed a bit it produces a slight rectifier type compression while a bit further a pleasant harmonic distortion develops. You can use each channel separate or you can use them both for more drive or more volume.