Actually the way it bounces multi's in Logic 8 isn't qutie the same. Here is what I mean.
The Export All Tracks As Audio command is not as elegant as Bounce In Place. It will allow you to bounce the multi outs to separate files but you'll have to manually drag them back into the project. Choose the "One File Per Channel Strip" option. It will produce a separate file for each multi-out. That is fine and dandy but here is what bounce in place will do.
Bounce in place is a neat way of doing all this in one keystroke for a specific region, or the whole track. - render effects, copy sends, create new track, mute old region/trac, paste/drag new file to track at correct place. I would suggest that soloing each aux then pressing "bounce in place" is quicker. An option from within Bounce in Place to do it automatically would of course be golden.
I am starting a request to get the ability to be able to bounce all 16 seperately with one click and have it bounce all 16 at one time seperately and drop them into your mix.
Maestro2be