The timer frequency = 60/bpm, so at a freq of 0.5s, which is in the code, 0.5 = 60/bpm, bmp = 60/0.5 = 120bpm. If you think it out, the frequency is a beat every 1/2 second, so that's 2 beats per second, times 60 seconds, which is 120 bpm.
bpm are generally considered 1/4 notes, so for 1/8 notes, divide the timer freq by 2, so 120bpm would be a freq of 0.25.
I had a few bugs in my sample, so I've cleaned those up and added a start button. The trick is just to start at beat -1, so that it leads into that first beat.
http://www.blackhornettechnologies.com/ ... Beat2.capx