When I use it to look at my recordings, it has a "Watch" button. I foolishly thought I could watch my programs on my touch, but it just launches the program on the TV1 output. Maybe with the new mini-slingbox it will play them on my touch. That would be cool. This may cause a problem with protected programs, though. When I launched one, my TV1 screen prompted my for my password, but my touch didn't.
Also, there appears to be no way to delete timers.