The only sends are to the reverb and they are post-fader. I am hearing the full signal, not just the reverb return. Incidentally, when I use the normal (non-automated) mute, it works correctly.
Sorry for taking everyone's time on this. I think it just doesn't work and could be related to VS-700.
Sad, because mute is a pretty basic function and it isn't like mixing to tape where you can hit the mute buttons at the appropriate times: anything that is not automated basically won't show up in the mix.