Audiobus app is one of the most exciting iOS apps that was released last year. It let's you route audio signals between apps. The list of apps that support Audiobus is already quite long. However, I was experiencing audio glitches on my iPad mini, but had no issues on my iPhone 5. Luckily, Audiobus was just updated to v1.0.2 to address that very issue. After updating the app on my iPad mini I can confirm the issue has gone away. Here's an explanation from Audiobus developers as to what's going on:
In order to cater to the differences in performance of the various iOS devices out there, we’ve added the ability to change the size of these chunks for the iOS device hardware: the hardware buffer size. In the previous version of Audiobus the default was 256 frames (five milliseconds). That is pretty low for iOS standards and it sometimes is too little time for devices like the iPad 2 and iPad Mini to do all the work needed for a smooth experience.
Now, you can choose double the buffer size, which will double the system latency - the time taken to respond to changes - but it also means that apps that are more demanding on the CPU of your iDevice will run smoother than before. If you’re not playing live but running a sequencer, or playing pre-recorded audio and filters into a multitrack recorder, 512 frames should give you a much better result.