There are inconsistencies in how Cubase handles this, I’ve noticed. For instance, open the key editor and mouse over the CC1 values, you’ll see they go from 0-127. Yet when you move the mod wheel on your keyboard, CC1 shows as going from -65 to 62. What the heck?? Is there some options somewhere that makes this consistent? Showing CC values as 0-127 (except maybe panning) is pretty universal, I don’t know why Steinberg decided to represent them this way.
A buddy of mine says for him, when he moves the mod wheel, it properly goes from 0-127. Now I’m thinking there’s some secret setting somewhere that’s causing it to display this way?