Correct. The channels just send the proper voltages to the diodes. To get full modification on the Emerald driver, I'd request all channels loaded up to the Emerald (RGBA/W), and the AV switch hooked up traditionally to the battery lead as they are on non-Emerald setups. I'm pretty sure this is possible for Ultrasabers to do, if my memory of the Emerald videos I watched serves. This would allow all 4 channels to be controlled through the software, and the AV switch would only light up when the saber is on - just like I like it, personally.
If you run the AV switch in Direct Drive, which is with the AV switched wired directly to the batteries, then the AV switch would be illuminated whenever the batteries are in the saber.