It's back 'In The House' (I found one and bought it...), and it's just about to be available again for purchase! After a bit of a disturbance in The Force, the Boomerang III Phrase Sampler is back in production, and new versions should be shipping soon.
I have tried virtually everything in the market - both hardware and software - and haven't found anything as inspiring as this beast. Simple functionality for either sync'd, unsync'd or serial modes, straight-forward setup of bonus functions, and a non-visual UX that keeps you focused on the music rather than the Big Lights.
I'm really glad they are making these again. Now, if I could just find where they stashed the updated firmware, I'd really be in business. Until then, I'm just going to loop. Until then, I'm just going to loop. Until then...