Is there a way to do this?
As of now I am not aware you can do this. The setting only applies for recording.
That's what I thought....thanks Oliver.
what are you specifically trying to do? double a loop? make it 3/4 length? You can always copy a loop out to something like Hokusai or MTD, edit it to your desired length and paste it back into loopy. check that the 'stretch imported audio' setting in the menu is what you want it to be.
Try changing the tempo after you've already recorded... It 'fits' the loops to the new tempo. If this is what you want, it can even be an effect in itself (I wildly changed tempo once to have a rhythm, sort of, blur, into a different rhythm at twice its speed doing this. Then I recorded normal stuff at the new double tempo)