Hi Federico,
Keep in mind that the Emote VST is only used to control the H9000. It does not send audio to your H9000. It doesn't matter where you place it as the audio passing through it will be unaffected. If the H9000 is connected to your computer via USB and you want to use its effects, audio must be routed in your DAW to and from the appropriate USB inputs and outputs.
The video my colleague posted above shows how to use Cubase Pro 11's "External FX" functionality. "External FX" allows you to create a group of audio interface outputs and inputs which function as an effect send and return. Once the External FX group is created in the VST Connections window, you can use the effect just like you would use a VST effect, except it will show up under the "External Plug-ins" tab. This is how I typically use the H9000 with Cubase. (Note that in the video, the "External Plug-in" is used on an FX Channel as a send, but it could just as easily be placed as an insert on any other channel.)
However, according to Steinberg's documentation, it seems like this "External FX" functionality is only included in Cubase Pro 11, and it is not available in Cubase Elements 11. The only way I can think of to use an external audio effect in Cubase Elements is to use two tracks how you described: one track as a send to the effect (USB 3/4, in your case), and a separate audio track as a return (with USB 3/4 as the input).
I'll get back to you if I can think of a better way of doing this in Cubase Elements, but it doesn't seem like there is one. In any case, it seems like you are routing audio correctly within the H9000 itself in the steps you described.
