Selecting this item (from Import submenu in File menu) lets you import wave file into separate slices, using BeatSlicer by Peter Segerdahl (available at http://surf.to/zero-x). Note that FruityLoops comes with a demo version of BeatSlicer that lowers significantly the quality of imported samples. To use this feature without limitations, you must have the registered standalone BeatSlicer installed on your system. After you choose a wave to be imported, this dialog box will appear: