Home button customization

During the iPhone 7 event Phil Schiller mentioned that the home button is customizable on the iPhone 7.

The only thing I've seen online is that you can customize the haptic feedback style? Does anyone have any additional info on this?

Edit: Apparently the home button can register different levels of pressing. i.e. light taps like in reachability and stronger taps like task switcher. I would love to set 2 light taps to task switcher and 2 strong taps to reachability.