Hi Scott - In the end I realised that as I'm using Mountain Lion, I can just create a multi-output device to achieve the same results without needing to use the External Audio Effect device to create two separate streams.

    The reason for creating the separate streams is so that I can send the output of Live and the input of my microphone to the Flash Media Live encoder, using one stream. Then the other stream (to the built-in outputs) would just contain the output of Live, which I'd listen to while broadcasting. A bit Heath Robinson, but thankfully under 10.8 we don't need to worry about it :)
    scissorkicks 8 months ago