yeah the VUs are very erratic for me too
when i run the 2 channels with identical settings the effect is not the same in them (the difference is fairly drastic too) so it would be helpful if the VUs worked properly
also re: the paper cutouts, yeah, when mine arrived i noticed that too and it appears as if mine were stuck on in a rush as they are right up in the top of the display so i have to actually stoop down to read them fully. the wonky hi-jinx continued when i noticed that the knobs on one of the channels did not line up with the settings markings on the face plate, they knob has been drilled in a bit to the left.
to put the cherry on the cake i also realized that when i rested the unit flat on a table it seemed to rock very slightly on 2 of the corners... turns out the face plate had been put on skewif so it cannot rest flat as one corner reaches down further than the other. I only hope this will not prove a problem when i get around to putting it in a rack.
i was kinda pissed at first and wanted to send it back but i dunno, it sounds good, i just wish it was a bit easier to operate.