Am I correct in understanding that instance swaps only allows you to swap between standalone components, and not between variants within a component set (e.g. a specific button state).
It feels like something i should be able to do, as breaking my component sets apart to allow me to do instance swapping seems counter-productive to the whole point of variants.
Or am I doing it wrong?
Rob
Totally agree, I’m having the same issue or misunderstanding of how the instance swap property is meant to be used. At the moment it seems pretty basic and not worth breaking up my component sets to use. Sorry to reply sans any solutions, hopefully someone else who maybe knows more will respond.
Found this thread but haven’t gotten too deep into it to see any response from devs. Why can't instance swap call on variants?
Same!!! I feel like this could be incredibly powerful but I am struggling with using this. @Figma any help?
I’ve found it to be useful when swapping out icons in a component, though the fill color doesn’t always play nicely with this currently.
I would love to see some enhancements with all controls of nested components and variants, etc appearing at the component parent level.
Same problem here! Haven’t had any good response from anyone or Figma itself.
@Natti found a thread i had started, but no real solutions there 
If other people are looking for a solution to this I found this plugin by @Gleb and @richardguerre which is a massive help.
Ideally this should just be what Figma lets you do anyway, but in the meantime use this. 