To anyone who is considering using this pedal for the first RC-505 (which will also work for mkii version - already a video in youtube) let me tell you that it works. (instead of buying boss pedals or any other expensive midi pedals)
First thing, i don't know how you assign anything to the "Up" button, since i can only have options for CTL 1 and CTL 2, in the looper. Maybe in this newer version (mkii) is possible, since you have more options in that looper
Now, the thing his that 505 doesnt have a "Track" button, like Mkii. So we need to assign to one of the buttons (CTL1 or 2) the: Assgn1 Target - TARGET TRACK INC or DEC. INC - Increase to change track selection from left to right, or Dec - Decrease to change from right to left. As soon as you set this, by pressing the button, it will show you the "Edit track" button blinking 3x meaning that is "selected".
Then you only need to assigned the remaining control (depending of what you already used for track selection) and set Assgn2 Target - TGT TR REC/PLAY. This means that whatever the track that is assigned, you can now rec, overdub and play.
It would be perfect to have the "Up" button to stop all, or stop selected track, but like i said before there is no CTL3...
Remember that theses settings are saved with "Write" on 1 specific memory slot. You need then to copy this to other if you want this to take affect on all Memory slots.
Hope this helps you to make wonderfull creations and keep this looper for hand and feet usage xD Happy christmas and a great new year to all!