If so...can you tell me the best way to set it up so I can record both a dry and wet track in SPLAT??  I do not want to reamp back in to the ER but I do want to have a dry track that I can use my internal guitar/cab emulators (Amplitube 4, GR5, Scuffham, GTR, Bias, etc...) to reamp.  I'm using an Audient iD14 which has two inputs and an optical in. Any info would be greatly appreciated.
 
I've figured out a couple ways to do it...BUT...I'm probably over complicating it since I'm not want to go back into the ER.
 
Thanks.
 

You tried the USB connection?

A quick google came up with this...
http://duc.avid.com/showthread.php?t=384371
 

The Eleven Rack *is* a USB audio interface and can record a dry and wet signal and more. You need to find and read the Eleven Rack User Guide which is easily findable online. That goes over all this, and also using the Eleven Rack as an outboard processor for people who have existing higher-end audio interfaces. You can use the Eleven Rack as an outboard processor connected via S/PDIF to your Octa-Capture, but get started by using it as the audio interface in Pro Tools, understand it (there is a lot to learn), etc. If you are just tracking guitar at any one time it may be easier to switch to it as the interface.