There just was a similar thread on post processing and metering.
To me the whole monitoring section is a bit unclear:
The Smart Bypass option - in my understanding and use - should be fully part of the monitoring section.
Atm the meters react to the loudness compensation, i´m not sure what is the idea behind it. In every hardware monitor controller the meter output is fed by the input of the monitor controller, pre control room level. As the Smart Bypass option is so-to-speak a smart relative monitoring level adjustment, it is part of the monitoring section and meters should not react to it.
Similarly, the “record what you play back” option should mean to the signal before the monitoring section, so before the smart bypass window. If you have a record output on a hardware monitor controller or a mixing desk, it will always be the sum output or - same as the meter outs - an output which is pre control room level.
With the post processing slot it is two fold. Using it for the encoder checker should be pre-monitoring section (affecting meters), using it w room correction plugins it should be part of the monitoring section (not metered)
The encoder checker could integrate a “feed meters from this point”, same as all the other plug in slots in the master section offer?? So the post processing slot would be switchable pre/post metering
Resulting signal flow:
Master Section Plug-ins > Fader > Dither > RECORD out! > Main METERS! > Post Processing Slot (switchable pre/post metering) > Monitoring (w Smart Bypass, Bypass, Monitor Level, etc.)
Wouldn´t that make sense?
The current signal flow is different.
I guess WL9 is almost done, i really hope what i wrote above is somehow solved in the version or at least considered and customizable.
Whats funny is that after working w/ WL for 3 years now i finally made the effort to dig in deeply by reading the WL6 (!!) handbook (since the new ones are not that helpful imo) and finally found ways to
A: customize the program that it finally looks better!! (no more color fades!!)
B: solve some weird issues i had when recording, so i don´t have to reset the audio driver anymore when i change the recording input, i can have way lower buffer settings without dropouts etc… but thats another story.
All in all the customising was not intuitive at all, (the usual critique), every window has its one color settings, key command settings etc. Why isn´t there one central option window for all workflow windows? Where i can adjust f.e. colors or key commands for every single workflow window?
I hope WL9 is more like me, simple and accessible on the surface and but really “deep” + nerdy inside 
Thanks for reading!