Hey Jerm,
usually you will not have to use the pedal for this, you just turn on latch, play a chord and the notes will keep on being arpeggiated even after letting go of the keys. When you strike a new chord, the old chord is no longer arp'ed but the new chord is. There is a smooth transition. I wonder if this is possible with your method? When I strike a second chord, will the old one keep on being arp'ed? It seems as though you can only stop the old chord by lifting the pedal. Am I right?
I think the fun thing with latching is that the arpeggiator keeps on playing and you can do something else, like play a different synth.
Imagine being able to put a different arp on every track (which I believe IS possible) and build an old synth style kind of song, just by arp'ing...