I'm glad to know things work for you so far. To answer your question let me elaborate:
The plugin is prepared to send [musical] time provided by the MOD host itself.
So eventually the idea would be: Slave the MOD-host to an external time master (in your case the Novation Circuit),
the MOD provides time for the Plugin and the Plugin can re-generate timecode/clock. In that case all other Plugins on the MOD will be in sync as well (sooper-looper, step-sequencer, delay...)
At least that's how things work with DAWs (e.g. Ardour).
I don't know the timeline for the MOD host to gain tempo/time features, but I do know it's on the ToDo list.
Adding some specific "repeat" mode to the plugin itself strikes me as conceptually wrong. It would be a stopgap solution for a very specific workflow or a temporary workaround. If it turns out that it's more than half a year away, I can add some "direct slave" mode to the Plugin as stopgap.
The only advantage to have it directly in the Plugin would be to allow multiple time-bases (e.g. 2 FX slaved to the external Novation, 3 effects synced to the MOD-provided clock and a couple of free-running effects). I can't imagine a good musical case for that, but maybe Philip Glass can