"I assume you are right but unfortunately the manual is next to worthless so i cant be sure. You really should investigate how to set Hold and Realease. I believe Hold is the time the dsp-limiter allows you to exceed you 1000 w value before backing off the gain in accordance with the dbfs value, and that Release is the time bore the gain is reset to normal."
+1 the manual is completely useless on this one.
my interpretation is the same as yours.
hold: how long to hold the gate open once the level is exceeded before the limiter is engaged.
0 ms hold would allow nothing to get through. the limiter would instantly kick in as soon as voltage tried to exceed the limit.
60 ms would allow the first three cycles of a 50hz drum beat to get through, then the limiter would kick in.
1000 ms which is a full second would allow for some pretty big sustained notes to come through before the limiter kicked in.
release: how long to hold the limiter in place once engaged.
if using the limiter to prevent overheating, keep it on the short end, perhaps 100ms or less with a 2000ms or greater hold. this would mean that the limit can be exceeded for 10% of a second every two seconds or longer. that way gun shots and explosions get through with impact, but sine waves and other killers get held in check.
if using the limiter to prevent excursion/mechanical banging, a zero attack 0ms limiter may be best.
but like splot said, the manual is completely useless in this area, so take this all with a clump of salt.