Live audio input to Rendezvous - Effects ignored

Steps to reproduce:

1. Setup a new document.
2. Add an audio source. (I am using a USB connected Rode NT-USB microphone).
3. Send that shot live.
4. Create a Rendezvous session, and set the audio input to “Live output”, and turn off all other checkmarks.
5. Have someone connect to rendezvous.
6. Open the Audio Mixer using command-u (on a mac)
7. Add the "Delay" effect in the audio mixer.

Expected result: Remote rendezvous guest hears the effect, just like remote audience.

Actual result: Remote rendezvous guest still hears unprocessed audio from the microphone with no delay effect.