Cool, thanks, I think I get it now. The Peavey service info says U1 is an "8K x 8 bit EEPROM with spring reverb alg" . I assume "alg" is short for algorithm. So the answer to my question is that the EEPROM is programmed with instructions that are sent to the CS4811 at power-up that tell it to be a reverb. Interestingly enough, the EEPROM has "SPR VRB" stenciled on the top. I assume if the EEPROM was switched out with one that had instructions for a different effect, for example a delay, then my little PCB would now be a delay (as suggested by Enzo).
Thanks to everyone that posted.
Thanks to everyone that posted.
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