The Bus Transceiver can be used to control the Redstone signal in a Bundled Cables by applying power to the side. Applying power to the right side allows the power to go through it in one direction while power to the other side allows it to go the other way. It also acts as a repeater for bundled cables. The darker red squares also show what colors of the bundled cable by lighting up part of it if there is power to the side.
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