Percolation, sliding, localization and relaxation in topologically closed circuits

Considering a "random walk in a random environment" in a topologically closed circuit, we explore the implications of the percolation and sliding transitions for its relaxation modes. A complementary question regarding the "delocalization" of eigenstates of non-hermitian Hamiltonians has been addressed by Hatano, Nelson, and followers. But we show that for a conservative stochastic process the implied spectral properties are dramatically different. In particular we determine the threshold for under-damped relaxation, and observe "complexity saturation" as the bias is increased.