Can't record GR5's Iceverb "freeze" effect

Does anyone have experience using Guitar Rig 5’s Iceverb component? It comes with a Freeze function that sustains input for a long time (you click the Freeze button and the sound at that moment is frozen, dropping away very gradually), but I can’t get the sustained sound to record. Cubase only hears the initial input, the guitar chord comes through fine, but the signal drops away quickly in the recording. I can’t capture the “frozen” tone in the recording. I can see that the signal is dropping away while recording too, but I can hear it through the monitors.

Is it a problem that I’ve added GR5 as an insert? I think I might need an FX channel or something, but I haven’t used those before and I’m a little lost. Any suggestions would be greatly appreciated. I’m using Artist 6.5 with Win7 x64.