What's your input monitor setting set at? Try software monitoring in ASIO hybrid mode.
Greg
I've tried all 6 monitoring modes -- the closest I get is "Track FX" mode, wherein I get a burst of signal through the VST chain when I press stop, but no actual continuous/usable signal (just the burst.) The other modes don't seem to interact with it at all, even the ones that specify input processing. Does it matter where I have the plugin sitting in the track router?