Hi Bob,
Something's not right there. Inserting an FX send shouldn't do anything to the meters of the track. Check to make sure that you're not record armed like Danny suggested and if it's still not working I'd call tech support.
 
Dean

OK, thanks all, will do.

Finally figured out the meter issue. I had accidentally select the input of the playback channel to one of the interface's inputs so it was looking for signal there. Once I switched it to off, meters for both the dry and wet signals worked as expected. Now if I could just figure out the VST plug-in issue with my Lexicon MX400, I could actually achieve what I was shooting for in the first place....
 
It crashes immediately on startup. Of course, Sonar did warn me that it might be incompatible. It give the load failure reason reported as MAIN CALL. Any possible solutions for that?