Of course they can be visible in the mixer. Have you even bothered to try a bit? It's far from a hack, it's customization.
About the "out of the box" bit, Templates and FX chains could be done and delivered with the install. No need to change the basics of Reaper for that.
I wouldn't be against an option to make volume/pan faders send MIDI data, but that's really no biggie to me at all (I know it is to some and voted for that request).
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