Quick Answer: This feature enables you to merge a succession of identical chords (with the same chord symbol) into only one chord for faster editing of the entire succession.
Merge Identical ChordsWhen opening a project, the create open project window is shown which asks you to select the sound output source. After having done that and pressing on 'Next', the track type analysis window is shown. There, at the bottom right a check box Merge Identical Chords is selectable.
Selecting this feature means that the harmonic analysis of Liquid Notes will treat a succession of identical chords (with the same chord symbol) as only one chord. In other words, it merges identical chords for faster editing of the entire succession.