I don't know what that dialogue box is and I don't want to know. Not knowing it hasn't held back my music to date.
Played with the demo songs a bit. One of the loops played in reverse.

Can Live do that?
Also the global effects manipulation window is a nice touch.
Don't know how the file management works but when it comes to Logic (I hope) I imagine you'll have access to the live loops in the project and also as part of your total live loop library...all tagged for easy access.
If they make this part of yet another free new feature packed update to Logic I'm wondering what features would make Apple think they should dub it "11" and charge for it.
But there's also speculation that Apple will turn the industry on its head again by stopping with the version numbers on their software and OSs and just release new features without all the fanfare and emotional anticipation that a new version number causes. Just sporadic new exciting features for free.