by 'chord sequencer', you mean what Yamaha calls 'chord track' ?
i.e. writing a full backing track with all the chords (and drum fills), but in step time, one event at time.
NO!!!
This is a real-time chord sequencer, where you start your style playing, and the record the chord changes for the entire song (or the section you want to loop) live, turn on the chord sequencer and then it keeps playing back the entire sequence of chords for you.
Enables two handed players to REALLY sound like a Jazz Combo!!
(err thats just ONE of the many examples of how it can be used)
As Diki has always said, and I agree : I cannot understand why this is NOT a standard function on ALL arrangers!!