I think what we need here is a detailed manual in light of the confusion with midi and SMT, to explain.
Ya, there is a lot of confusion indeed. My problem was not what you described.
In my workflow I could not create a .sgu file in BIAB with a MST (Midi super Track), which I could save and then load into the VST and at the same time maintain the MST as a MIDI track in the VST in Reaper. The MST would always turn into an audio track.
So, to get around this, I used your workflow: I loaded the .sgu file which I created and saved from BIAB into the VST and then "added" a new track within the VST. As you note, there is actually an option to add a MST from within the VST. When I did this it loaded the MST as a yellow midi track which I could then insert into Reaper from the VST.
I still think my original workflow shows a bug, but without design specs or detailed manual... In fact, based on these threads, there seems to be only a few of us who have any concern about this stuff...