I do this. At the end of the chain, I branch off to another line in the grid and put a cab block there. I've found it doesn't matter if the cab block is after all the effects. In the output block, pan the original pathway, that goes to your tube amp return, to the left. Pan the other line that you put the cab block in to the right. In the I/O settings, set output 1 to stereo. Output 1 left goes to the tube amp return. Output 1 right goes to the board.
I've found it best to not max the output 1 volume on the front panel. On the tube amp, I set the channel volumes so that their input levels are correct, and then adjust overall volume with the output 1 knob on the front. It acts like a master volume. In the setup I'm describing, the front output 1 volume knob will also control the signal going to the board. If this is an issue, you could insert volume blocks somewhere to give separate control.
Also, a really good idea is to shoot a cab IR of your actual real cab and use that sim. Someone suggested I do that the other day, and the result was amazing. I found that the sound coming out of the FOH was very close to what was coming out of my real cab. This means that tone tweaking on your amp in a live setting won't screw up your sound in the FOH speakers. You can read my thread on this from a couple of days ago where I explain how I did this.
Here is the link:
http://forum.fractalaudio.com/axe-fx-ii-discussion/89564-foh-problem.html