I think the confusion comes from the fact that Yamaha don't call it a 'sequencer'. They named it 'Performance Recorder' which I suppose more closely describes what it is but essentially it IS a sequencer.
- Tracks - 16 Sequence tracks, Tempo track, Scene track
- Recording type - Real time replace, Real time overdub, Real time punch in/out
- Note Capacity - Approx. 130,000 notes
- Note Resolution - 480 ppq (parts per quarter note)
- Tempo (BPM) - 5 – 300
- Songs - 128 songs
- Arpeggio - Parts: 8 Parts simultaneous (max.), Preset: 10,239 types User: 256 types
- Sequence formats - MODX original format, SMF formats 0, 1
Hopefully that clears up some of the confusion.
By the way the Performance recorder is extremely easy to use. Just press the record button and it takes you straight into the recorder screen where if you wish you can adjust settings for tempo, quantize etc and then you just hit the Play button to begin recording. Easy!