Ok cool. Is the toggle switch the little switch between the four knobs?
If so, that's going to be a "stop playing and tweak" thing mid set, but no worse (or better) than the Boss SY-1 methinks, for live use.
Personally, I'd much prefer to use midi to get the most out of this pedal eg so I could easily scroll through with just a footswitch, and then the benefit of presets over the SY-1 would come into its own, particularly for live use.