I've seen other multiband compressors, like Ozone that have a gain reduction meter. Not seeing that on the LP MB. So, I'm guessing that you see the gain reduction from the graphic display. Or am I missing something? Thanks!

EDIT April 30- I thought we were talking about the LP 64 multi band. I didn't even know there was a new version so what I say below might not be true. I'll leave it until I have a chance to check out the new version. 
 
Each band has a meter. You'll only see action if it's being hit hard enough.
It's a good visual of your mix. I aim for each band occasionally just showing a little action.
If one band is always active, you have too much of that band in your mix. Low end is usually the one to watch.
Don't use the default pre set, you need to make your own settings, the attach time is way to long as example. And the settings are not global, you need to change each band.
 

I'm just now looking at this and I must say its a lot more than I expected. It sounds great but it seems so versatile as to be a real asset.  

Cactus Music
Each band has a meter. You'll only see action if it's being hit hard enough.
It's a good visual of your mix. I aim for each band occasionally just showing a little action.
If one band is always active, you have too much of that band in your mix. Low end is usually the one to watch.
Don't use the default pre set, you need to make your own settings, the attach time is way to long as example. And the settings are not global, you need to change each band.
 

Thank you! Much apprciated!

Tried the LP EQ on a couple of mixes. So far I am impressed.
I was thinking of getting FabFilter PRO-Q but I will try this for a while.
GUI is not as pretty as PRO-Q (I don't really care) but the functionality is extraordinary.
 
Anyone know if the LP EQ and LP MB are Cakewalk in-house projects ?

I hope so.

microapp
Anyone know if the LP EQ and LP MB are Cakewalk in-house projects ?

Yes. I believe some of the recent hires were involved, but I'm not 100% sure.

John
I'm just now looking at this and I must say its a lot more than I expected. It sounds great but it seems so versatile as to be a real asset.  

i agree, they sound pristine, but like you say versitile

Are we talking about the LP 64 multi band?? It's been around for a long time,, I think I started using it with Sonar 7.. 

This is not the LP64.  It originally started as a revamp to that plug, but they quickly scrapped the revamp and went from the ground up.  These are completely new plug-ins and from what I can tell watching the video, extremely well done.