@jtsteph
There’s more audio capabilities coming with the next release. You’re already in the beta program so you should have access to the new beta and new audio actors. Have you tried working with any of those?
In particular, the new Audio Frequency Bands, Audio Frequency Watcher, and Audio Level Watcher let you do live audio frequency and level analysis without needing to go through the Live Capture system (and thus lets you use as many virtual audio sources and/or mics as you want).
P.S. Anyone else reading this who’s interested in trying out the beta with the new audio actors (which also adds VST3 audio plugin support, a Audio to Text actor, and more) can send in a ticket using the link in my signature below.