I did a setup witch pretty much what you said and a little more using reaper and lbx stripper.
And I can confirm that the pipeline way shown in that video did tremendously helped achieve the alll thing for me.
So it can do it briantly, but it was kind of a big big pita to figure all it out.
In the end, I was able from my pedalboard to trigger samples, use a looper, control all sounds and fx for my guitar and the flamenco dancer who performed with me (using motion sensors, she controlled some parameters too when I allowed it...). By muting/demuting tracks using lbx stripper snapshots.
In some short words, with lbx stripper you can control all reapers and plugins parameters, save presets, create macros, modulate them with a step sequencer, link them to midi controller. But there is a big learning curve and not so much documentation...
Regarding stompboxes replacement, there are a lot plugins for very good sounding fx, i use meldapoduction's a lot. Some jsfx can do really amazings things, just check saike's reflectosaurus, or floaty delay for example...
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