: This is likely the name of the software company that developed the product. Propellerheads is a well-known Swedish music technology company, famous for their products like ReBirth and Reason.
: ReCycle is a "loop slicer" designed to analyze audio loops and break them into individual rhythmic components (slices). Propellerheads.ReCycle.v2.2.4.WIN.OSX.Incl.Keygen-AiR