I would like to listento effects from the AXR4 while recording, whilen utilizing direct recording, and then hear these same effects during playback without recording them.
Is this possible?
The way to listen to them on playback is via the native plugin version of the FX. So you will have to save a preset on the dsp fx, then load the equivalent plugin and the preset for playback.
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The Rev-X reverb is actually a really lovely reverb 
Just add an FX send and use the same reverb on that so when you’re playing back the recorded track it sounds the same.
It’s a great reverb to have when mixing and it’s free with your AXR4 too as a VST effect
M