I can confirm the burst-of-noise problem with IIEQ however: it happens regularly when I open a Tracktion edit containing several instances. Its a single longish burst of very loud noise just as the edit screen opens, and its very scary if your monitors are cranked!
I would say you should probably look at that before you spend any time on my LP10 PDC issue, as I've been using IIEQ rather a lot recently.
