Panning question for MOOG One

Just got my ONE yesterday. I’ve noticed something quirky and wanted to ask if anyone else had this:

Compare+Shift to make an Init patch. all good.

Wanted to assign the Pan VCA to LFO 1. On the main L/R output it works as expected.

BUT when using either headphone output no stereo panning - it just sounds like it has a tremolo effect on it. Tried it with multiple headphones as well.

Anyone else have this issue?

Thanks in advance!