I would love to see this feature added to the ME-1s. Currently, you have global EQ and limiter control on the mixers. For individual channel processing, you can set the direct out pick point to post EQ/Dynamics/Delay.
If you need to process the signal independent of the FOH mix, you can set up a duplicate channel by changing the input source on an unused channel in the preamp menu (GLD and iLive). You can accomplish it with a QU using a physical Y-cable. Once you have 2 copies of the channel, assign one to LR and unassign the other. Use the unassigned copy to EQ/compress for your ME-1s.
This approach is more work for the FOH engineer (I recommend building a scene in the offline editor to save time) AND you’ll need to tell stage musicians to use the correct input channel, but it does work effectively. When we have a 1-22 input show on our GLD, I duplicate all channels to 23-44. 1-22 go to FOH and 23-44 are routed exclusively to ME-1s.
Hope this helps!