A VST should not have anything to do with you driver functions, AFAIK.
There's no need to jump back and forth in the driver settings.
If your Fast Track is your playback and recording timing master and it's drivers (ONLY) are selected in MC Preferences (or ist it Options in MC?) you should be able to record no matter what VST you have inserted in Music Creator.
I don't understand what you mean by "selecting ASIO drivers for Amplitube...the driver for MC". Are you using it in standalone mode? If so, you can not record it with MC. You have to use it as a VST in MC.
And yes, you must put AT it in the same folder where your other plugins are, or have Plugin Manager scan the folder it's in.
Using ASIO you usually have only the ASIO panel to set latency in milliseconds. I'm not sure if it's the same with all soundcards, though.