From another forum where Carl said;
It's not really a stereo/mono issue, but rather an audio phase rotation. Normally, V3 produces the same sound in both ears, what most people would call mono since there in no L/R difference*. When you hear the sound go "stereo" (a sorta surround-sound effect) you're still getting the same audio in both ears, but with a phase rotation that plays a little mind-trick on you.
Our latest software rev fixes this, so that there is no phase rotation and, therefore, you would not hear the funky "stereo" effect.
- Carl
*V3 uses L/R only in the balance settings, and in the audio effects (end-of-range beep).