A number of us asked for it a long time ago, but I think we have given up. I don't think that any of the guys Ableton are real musicians (or if they are, play out of pentatonic blues)... at least if one is to judge by the "Chord Midi Effect" device which is useless for performing chord progressions in live situations if one wants to use (as a basis) dominant 7th chords (and chords built on it) in the (rather - well - known - in western - music) progression "Dominant 7th" to Tonic" (e.g., G7 -> C).
A Chord Rack is definitely needed.
But an instrument tuner would be a good place to start - especially since elastic audio in performance is their strength - MIDI instruments not so good)
That said, Live is an awesome program; I just wish they would get off their butts and make some very common musical features available to the musicians who work at a high school band level....