The idea: A knuckle in the middle of each cable, pressing it accesses a menu with those little helpers, so you don't have to insert a new effect for very basic tasks all the time.
Awesome would be a setting to delay the stream in samples. [1]
Maybe also a gain setting (with enough headroom to boost low signals)... etc.
[1] A nice complement here would be a info table that lists all loaded plugins and their latencies.
