Does the AxeFX have this function? (high / low lift)

[MackieFX]

Basically what Nolly does here

And then here with generating low frequencies

 

[rossipedia]

CS Lift is basically just a two band EQ with fixed Q and frequencies. You can probably reproduce it with a parametric-EQ block. Not sure exactly what the settings are.

 

[Tom Morris]

Should be able to use a filter block as well to pull out an unwanted freq.