I've said this before, but Liquid Profiling is either one of two things:
1) Simply a custom EQ (with EQ points and curves matching the amp in question's tone stack) placed before or after the profile. This will be nice, but nothing revolutionary. We can already apply custom EQ with studio EQ (pre or post profile), or really detailed EQ in the DAW (post profile). This still won't make the profile really respond to EQ like a real amp, as most tone stacks are between pre and post amp (hence interact with gain)
2) Something deeper - if they've come up with something that can interact with the gain structure of the profile in the same way EQing a real amp does, then this could be great. Fingers crossed...
One thing is for sure - there's no way they can actually insert the tone stack between pre and post amp stages (e.g. as most modern modelers do) to achieve this. Even a direct profile is the sound of the whole amp, you can't separate pre and post amp stages like you could with a modeled amp. So if Liquid Profiling is option 2, it would have to be something whereby the gain structure of the profile is altered "after the fact" (i.e. an "artificial" adjustment of the gain structure that was originally profiled). Could work tho. The existing definition knob does something like this, but in a very broad stroke.
And if anyone in the know could comment on which of these 2 options it is, that would be great!