Refresh my memory...what's wrong with using the track's inline PRV? That way:
1. You see only the controllers for that track
2. They can be any height you want, no matter how many controllers are assigned
3. You can use all the standard drawing tools
4. You can filter a specific controller so no matter what you do, only the selected controller will be affected
5. You don't have to change any MIDI channel assignments
6. If you need to tweak some notes, you can set the Edit Filter appropriately, as well as zoom/scale the notes to whatever resolution you want
Seems like that would solve your issue, unless I'm missing some drawback to the inline PRV.