KPA Stereo Live?

Why not?

There's no power amp in the KPA (yet). If you're worried, you can always set the output level very low to start. Press the Master button on the upper right of the unit and set the output how you like. Of course, there's always the Master Volume as well.

No problem Mickey, go for it

OTOH, I assume you know you can have a stereo rig even connecting the stereo effect at the loop level; but you're stuck with placing it at the X stomp location. So, depending on the type of effect, and the kind of sound you're after, you might appreciate both ways