So.
I just stumbled onto this link.
http://www.framus.de/media/manuals/Amps/Cobra/Cobra_V1-2.pdf
Take a look at page 8.
the top right hand corner. There is a little non NFB reliant 'Deep' control.
Is this just rolling off highs?
the deep is not a true depth
the cobra already has a fixed depth, which is a 2,2n cap in the negative feedback with no parallel resistor or pot (that's a HUGE bass boost)
the deep knob is some sort of reversed bass cut
edit: actually it always leaks the mids, some low mids and highs (so you're not exactly wrong), and then you control how much bass will be cut along with the other frequencies
I hated that control in the cobra
it should be wired to the 2,2n cap, Soldano style
it was impossible to lower the huge low end thump, even with the deep at zero, unless I dialed the bass knob under 2 (and that killed a lot of the thick preamp tone)
negative feedback can be used for the preamp too
the VHT deliverance has some sort of NFB based presence control in the preamp
my Zambelli Hyperdrive has something similar as well