What are the Multidelay bypass mode, mix and level parameters set to?
Multidelay doesn't use the same mix law as Delay, so nonzero mix with Mute FX In/Out bypass mode and level at 0 dB will reduce dry level, engaged or bypassed.
For an easy way to keep dry signal at unity gain through MTD, set mix to 50% and block level to +6 dB. Then use input gain to control delay amount.
Multidelay doesn't use the same mix law as Delay, so nonzero mix with Mute FX In/Out bypass mode and level at 0 dB will reduce dry level, engaged or bypassed.
For an easy way to keep dry signal at unity gain through MTD, set mix to 50% and block level to +6 dB. Then use input gain to control delay amount.