In your screen shot, it implies you would have the opposite happening. (see image below)
Enable Input Monitoring should allow you to 'hear' the effects while you record the track.
You have that enabled.
The Record IM effects option allows you to record the effects you are hearing (but it writes it to the track audio data so it can't be changed later).

You seem to be saying the opposite is happening. You record it, hear it on playback, but don't hear it live.

Looking at your settings, you should be hearing it live, but not recording it.
Or am I missing something?


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Make your sound your own!
.. I do not work here, but the benefits are still awesome