maybe i've not been clear - you cannot simply offload effects from your host, but you could insert it into a slot within VE3.
but to insert it you would need something to be inserted into ... from the host comes midi, returned is audio - whatever you insert then on the slave, there must be any instrument playing (producing sound) on which effects can be applied.
christian
and remember: only a CRAY can run an endless loop in just three seconds.