Indeed it seems like it don't need it anymore.
Without IC2 the unit passes audio in bypass mode.
In effect mode I can hear the effect, but the volume drops to about half the bypassed volume.
With IC2, no sound comes trough in either mode.
And if I measure the supply voltage, V/2 is dropped to about a volt.
This happens with every new IC I tried, (I tried 5532 and TL072 chips.).