Hmm... I seem to remember that Lexicons only output a stereo signal.
Have you tried recording on a stereo track?
You can also bounce the track and select Split Mono. That will put the left channel on one track and the right on another track. Delete the one with no audio and the remaining track should be pannable.

Hey,
 
I set up the Tascam US-800 no problem and it works fine with the Cubase LE5 it came with (it took me time to find one setting I had to configure, but that was my fault).  I have not tried it yet with MC5.  I am running Windows XP on a pretty decent computer, ram and processor wise.
 
Just wanted to put to assure those who've complained about Tascam drivers that I had no problem.  We'll see what happens when I try it with a Cakewalk product.

glad you got the tascam to working.  as I mentioned, tascam drivers are ok for some people and not necessarily for others.  its' more of a "crap shoot" whether it works with your system or not.  but glad it paid off for you!

All in good time, grasshopper.
In the beginning, it seemed the more I knew, the more I didn't know.
Read all you can, including the help files. There's some good stuff there.
Check out the techniques forum, and look for older posts by Yep.
Try stuff. You are going to trash some projects, it's inevitable.
Save each session working on a project as a new version. That way, when you screw it up (and you will), you can go back and try it again.
Listen critically to your own work and that of others. You will begin to recognize effects and how they work.
I learn something new all the time. It's a long and winding road, but worth every effort.

Okay.  One step at a time it is: first, breakfast . . .

very good Kat!