Gotta check... this but I know in the past u could record in real-time hence if u played with a knob U would record yer tweeks... BUT this option is gonne (not 100% sure) now u do render.. meaning that's an offline process!
But U can use the project window and then add an efx slot, then all u have 2 do is draw the sends envelope!!! Not sure if u can automate just any parameter ... I think not!! :(
If this is a must just fire up cubase SX and do it there!!
Not sure if this will help much...
Z