Help understand what's going on with the Threshold pot in the Ugly Face

[soggybag]

I'm reworking the Uglyface. The Threshold pot sets a voltage going to pin 4 of the 7555. The pot connects to +9v through a 22k and to ground through a 1k, with lug 2 going to pin 5 on the 7555.

So it looks like the voltage divider goes from 22k / 11k to 32k / 1k.

So OHMs law says we get a range from 3v to .27v at the other.

If pin 4 is at a high enough voltage the 7555 oscillates. Which is the purpose of the Threshold pot.

So what happens with the 2u2 cap between pin 4 of the 7555 and pin 5 of the 386? Is the - side of this cap at 0v?

Does the out put of the 386 sit at 1/2v with no signal? How would this interact with Threshold pot?