Damn, I forgot that I reloaded Cubase 6.5.5 to a new SSD drive after I lost my old C drive…and Cubase needs to be told to release the driver when Cubase is in the background. My first mistake. So I made this change but still lost the driver in Cubase when I pulled it up while WL was open.
So… I made a change to WLE9. There are two options regarding the release of the driver in WL and I had selected the one that said: ‘When Cubase is in the foreground’. (This is the one I had checked). But the other option is: ‘When Wavelab Elements is in the background’. I checked this box instead and everything works as it should… (See last paragraph.)
Funny thing is, as far as the WL options go, I would think that the original box I checked would be the right box? Live and learn.
…HOWEVER, (new info), for the two programs to swap drivers, I see that I have to reduce either one to the taskbar and then open the other. Doing this, the driver swaps out fine. If I leave WLE9 up and open Cubase on top of it, I have no audio. Another oddity, IF I do open Cubase on top of WLE9 and wish to recover my audio, I can go to the Cubase Project tab ‘Devices’ and open 'Device Setup and then open the (Mackie) ASIO Control Panel (to check on the latency, let’s say, although I change nothing, and then close all of this), the driver will be released from somewhere and I will have audio.