holy crap, i googled the web for this effect, and i found some usefull information on page 2 (of 3)... the Funk Repeat effect only existed in the original PT 1.0 rountines, it was replaced by "Invert Loop" later. I read this on nearly every page i could find. Both effects seemed to "trash samples", though, so hence why noone used them. on bottom of page 2, i found
the final explanation of this effect - it seems to be very rare on the web. as this website is not online anymore, i linked to the google cache. in case it will be replaced, here's the original document:
Command EF is the Funk Repeat command (Huge thanks to T-Jay for this
info!). The command needs a short loop to work. It moves the loop through
the whole length of the sample, e.g.:
You have a sample that is 10000 (decimal) bytes long. You have set the
sample loop to 0-1000. When EFx is used, the loop will be moved to 1000-
2000, then to 2000-3000 etc. After 9000-10000 the loop is set back to 0-
1000. The speed of the loop "movement" is defined by x. I don't know
exactly how the speed is specified, but E is two times as slow as F, D is
three times as slow as F etc. EF0 will turn the Funk Repeat off and reset
the loop (to 0-1000).
Some information can be slightly wrong, e.g. the loop MAY be moved from 0-
1000 to 1002-2002, but it isn't important. Very few trackers actually
support it.
EDIT: As of July 2009, the site is offline again - If anyone wants that manual - let me know, I still have it.