where did you see an "advanced version of channel strip"?
My guess is that what you saw was Sonar with Pro Channel. it's the same thing, but MC is limited to the few plugins which come with it.
you CAN, however, find a lot of VST's which you can put into the FX bin of MC. any VST2 compatible plugin will work in MC. there are a lot of free ones and a lot of ones you pay for. I can point you to some of either kind if you give me a hint what type of plugins you're looking for.