I know this has probably been already covered on a thread somewhere else, and I remember reading it somewhere but I can't find it!....and being a noob doesn't help.

Although I use a Numark N4 with Traktor, could I potentially plug an EFX 500 into my master output to mess around with? I know its meant to be linked through a DJM type "send & return" signal. But would this be possible?

Not for anything serious, just to add another aspect to FX capabilities!