Right now you can map a MIDI button to the effect wet/dry mix control and use that as a toggle for the effects. So, you'd have to push the button once to enable, and once to disable. MixEmergency 1.6 will have more MIDI mapping options (and you can map multiple MIDI controls to a single MixEmergency controls - so you should be able to map both a bypass function button and the normal wet/dry slider/knob).