I guess I'm using the DLD similarly. Clock it with your master clock to the ping input. If your master clock, for example, is a quarter note, and you play a 4 by 4 beat, then setting the DLD time to 4 and the switch in the middle will give you delays of one bar. Now, feedback CCW, delay feed CW, and mix CCW. When you want to lock the input hit the hold button. Use the mix knob to crossfade between the live input and the recorded 1 bar loop.
Hope it helps,
Tom