I've figured it out. It involves outside signal routing and the use of a different sound driver other than the x1204usb driver.
1. Plan out metronome, including all tempo / key changes, save.
2. In metronome settings, Set Audio metronome to Main output. (ASIO4ALL in my case)
3. Insert new audio track, Arm this track, Set input to main output. (can be stereo or mono)
4. Physically connect the output of the sound card to the input of the sound card. (1/8" TRS - TRS in my case)
5. Check to ensure all forms of monitoring are off or muted. (To avoid feedback loops)
6. Press record and adjust the volume of the main out so that the track does not clip. Delete the test run you will create by doing this.
7. Return Now time to zero.
8. Press record again and let the track play through to the end. This will record the audio signal from the metronome to the armed audio track.
With the above steps, I was able to create the tick track as needed for our purpose. Thanks for the help! I'll return to the forum when I find my next roadblock.