Aha! It definitely has an effect on pace as well so you use the meter to vary the pace as well as the execution quality, whatever that means....
What i gather form it is:
Like any pace bowler your pace will be up and you will be bowling at your best when everything in your action is smooth and you are in good rythm. Poor execution will result in you not bowling at your full potential speed. However bowling in the Orange is not designed to bowl slower, so the bar im my opinion still really shouldn be used as a pace meter.
Slower ball is the designated way of changing the pace!