I suspect it is either :
a) A clever piece of anti-copying software in NCH when recording from streams / line-input, or
b) Something that I have missed in the release notes, or
c) A bug.
Both a friend and I have noticed this recently. Give it long enough (30 mins to an hour) and it appears that the waveform being recorded is being modulated by some external source. The modulation isn't regular, or at least not with a pattern I can recognise. Eventually it modulates the signal well out of the limits of 16 bits (0dB) while recording, leading to this.
Once recording is complete, investigating shows that the problem starts small and appears to have a very low frequency element of 5HZ or less, after a while the modulating waveform has grown, taking what is being recorded near the 0dB limits, thus and see a point when the modulation is greater than the signal meaning that there are large chunks where the signal only crosses the centreline as the modulation signal does, like this.
Eventually the signal is virtually lost in the 'modulation' like so. Wavepad version.
Please can someone explain why this is happening, or if it is unexpected (i.e. a bug), then PLEASE fix it as recording is one of the many useful, and indeed helpful things that Wavepad was good at...or can be again.
NB. this was 'created' while recording the audio of a ZOOM presentation. I will try alternative sources to see if it happens on streams other than ZOOM.