Mags go straight out to one 1/4" jack (true bypass) and acoustic goes to another 1/4" jack, the Stereo Switched Jack that comes with the Acousti-Phonic.  The Acousti-Phonic is help in mono mode by grounding the ring contact permanently, but the only signal going into it is acoustic, so that's all that appears on the Tip.  There is no Blend mode in this configuration.