ToneBrowser's phase vocoder approach
ToneBrowser splits the audio into short time frames, analyses the frequency spectrum of each, and then stretches or compresses the time axis while keeping the frequency content intact — a "phase vocoder" based algorithm.
That is what makes it possible to change only the speed, change only the pitch, or adjust both independently. The "chipmunk effect" (the voice rising when you speed things up) is completely eliminated.