Ratcheting was made popular by Tangerine Dream is getting popular again (some instruments start implementing it again like Mother 32).
My way of ratcheting (manually) on the REV2 is as follows.
1. I create a normal 16 step step sequence (you can use the arpeggiator as well).
2. Have one LFO produce an inverse sawtooth, sync it with sequencer and set the speed at double of the sequencer.
3. Create a modulation line. From Mod wheel to Filter frequency, and set the amount to 20 or something like that.
Now play a bit with the amount, the filter frequency and the mod wheel. At some point you should be able to create ratcheting.
The next step is to use the second row of the step sequencer to control this amount. Then you can automate it.
Just an idea for people to spend some time on it. With the right sound, some good tap cross delay and a beer, you are busy for an evening.