Even though the meter says there's constantly 1-2 db of gain reduction there's isn't necessarily. There are transients constantly, but there are gaps between them. The attack time on most compressors is the amount of time it takes for the compressor to fully decrease the gain once it's over the threshold, so even if after a transient the compressor starts to release, and it gets maybe halfway "released" before the next transient comes, it still will take the compressor that much time to re compress after the next transient. It's kind of hard to explain, I'll try and think of a better explanation.