In Keyboard mode analog stick will work in 8 directions
with keybinds provided for 4 directions, such as WASD or
similar. If you move the thumbstick in diagonal between W
and D, then it will work as W+D at the same time (if it does
not, you need to calibrate the thumbstick).
It is possible to setup 2 separate keybinds on thumbstick and switch
between them on the fly (see more information at 5.2.6. Toggle analog
stick mode)
In analog mouse wheel mode, the thumbstick will work as vertical and
horizontal mouse wheel. If you move the thumbstick forward and back, it
will act as a vertical mouse wheel. If you move the thumbstick left or right,
then it will act as a horizontal mouse wheel. It also reacts on how far the
thumbstick has been moved by scrolling faster or slower.
It is possible to change the forward
direction for thumbstick with angle
slider up to 180° in each direction.