you can do what you suggested with the I/O just look at the Audio to options & add an audio track to act as return
That is exactly how I tried to set it up. 4 audio tracks having an output to External 1+2 OUT on soundcard, which goes into send on EFX-500. Then the return on EFX-500 goes into 1+2 ...
I would like to use my Pioneer EFX-500 effects with Live. It is awkwardly possible now if a track is created through which all other tracks are routed. It works, but it generates a whole bunch of new problems. It would be much better to have it on a Return track that would function same as Send ...
I am actually surprised that this has not been implemented yet. Maybe it can still make it into Live 6??? :)
Once in file browser, one should be able to start and continue typing the name of a directory or a file and the marker should automatically go there. This will GREATLY speed up finding files ...