…would have expected, that this button toggles the “snap to grid” feature on/off.
Can you be more specific please? There are multiple snap to grid buttons.
I can confirm that does in fact work, although you have the snap size set to 1/16 beat, which is a very tiny step size. Set the snap size to 64 to get a full bar. And yes I will make all time periods more intuitive in a future release. 
@seb, I might have been not precise enough. Snapping feature works in general, but DISABLING snapping by clicking the button “SNAP” has no effect:
However, if I set “snappingactive: False” in timeline.json, the button gets disabled (after Liberation restart):
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Oh I see. Thank you for explaining! I will look into it.
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Fixed in the latest upload, you’ll also notice more intuitive snapping options.