Cool idea.
I would suggest that sending to other mixer channels is better, though. Simply because of the meters.
But JS has GUI support now, so it'd be easy to put a meter for each channel in this JS. If it had *that*, the only issue would be getting confused by 10-tracks' worth of fx on one track which all appear to be in serial, but are not.
As well as confusing, I *believe* (I may be wrong) the "10-tracks' worth of fx on one track" thing would have performance ramifications on multi-CPU machines.
Like I said, it's a cool idea, though