I understand. I bought the boxed version too, I think it was a version 2 and it had some minor errors. I could still use it, but a year later, when 2.2 was released, all went fine.
What DAW are you using? In Cubase, I have to enable Automation Write, and it records every movement from my controller, and displays it when I play back in Automation Read mode. I did not try with an instrument track, I always use the VST Instrument panel for VSTi's.
The setup may differ, but I think this problem can be solved.
well here I admit that there is a limitation. I'm not sure if one can purchase a second dongle and load another license for a second computer. Another option might be a software dongle, but for this the computer has to be connected to the internet.
I still use version 2.2. On my test DAW (same laptop via multiboot) I have 2.5, the license on the same dongle as for Cubase. So it seems I can use 2.5 only once, but actually that's my workflow anyway. I never load more than one MMV and render each track one by one. I only use my own MMV presets, so I got used to this less versatile method. As a side-effect, I get reminded to the earlier years with tape-machine and hardware synthesizers. You always try to get the sound right before recording, and so in Cubase I try to get the sound right before rendering.
Every software has its limitations. I was often thinking about a dedicated computer for the Moog Modular V2, with a vertical display. It looks like a second dongle is needed for this. One for holding your usual licenses plugged to the DAW, and another one with only the MMV license, so that it can be used outside the DAW if needed.