After almost a full year of trying to figure out just what exactly Loop Mash is, I think I finally found out.
This plugin for Cubase basically lets you take an audio sample, and it analyzes hitpoints and slices that then impact other samples.
In other words, you import a drum loop into it, and if you add samples to the tracks under the master track, it automatically creates a mashed up loop by selecting slices from your other samples to match the drum loop.
Really cool tool, and if used in the right ways, could probably create some interesting glitch.
Here's just a short stem I created experimenting with it:
https://dl.dropbox.com/u/52284231/LoopMash%20Test.mp3
And here's a video showcasing the plugin in a better way than I can explain it: http://www.youtube.com/watch?v=SuwVV9zBq5g