Shuriken, creator of “sonic weapons for the music-ninja”, has introduced BitTest, a free audio effect for Macs:

BitTest is a sweet little bitcrusher VST, it converts your data to 8 bits, then you can turn the bit’s off (the top row) or invert them (the bottom row) individually. That is you can individually flip and invert the bits.

And that is all this little baby does, but she does it well.

Download at the Shuriken site.