When I launch Metro the cue loop and record loop buttons are always turned on. This confused me at first when I tried to record a little piano and could only go for eight bars. I thought I had accidentally turned them on but they are active every time I launch Metro. If you don't see it maybe it's my Midiman or Transit drivers.
I had to unplug the Midiman 2X2 before plugging in the M-audio Transit to get a connection. But I do have software audio thru working, though with a little latency.