Do I understand you right, if I describe it this way?
- Add an Audio track, Audio event.
- Add a FX Track to the selected (Audio) track.
- Draw an automation curve for the Send 1: plug-in - Level.
- Make sure no Audio event is selected in the Audio track, and the Audio track is selected.
- Render in Place > Render Settings: Channel Settings.
- Click Render.
=> New Rendered track is created and the Send 1 is routed to the FX Track, but the automation of the Send 1: plug-in - Level is not applied (the curve is not copied and the Automation is not Read enabled).
Is it the same what you have described?
If yes, I can reproduce it here and I report it to Steinberg.