don't think it will work FM affects how we perceive things and different levels
What makes preset leveling tough, is that Clean tones are not as compressed and they tend to be brighter and cut through the mix more. And because they are clean and don't have as full of a bottom end, when we level our presets at home, we tend to turn them up so they "feel" as authoritative as our distortion presets.
The trouble is, that when we change to performance volume, we've usually over-compensated. I've heard lots of live mixes where the guitar can be heard when clean, and gets lost in mush when they switch to overdrive. And it's contrary to the direction the song is trying to go dynamically, resulting in even more weirdness. I've experienced the opposite as well -- I'm playing a loud passage with overdrive and the next song section is supposed to be quieter, and I switch to a percussive clean sound, and it is WAY too loud in the context of the song. Some of those volume differences would register on meters, but the rest of it is "perceived volume" changes. That's why you should be prepared to adjust your preset volumes during rehearsals when you are playing at band volume, and not at home.
I was guilty of gaining all my stuff so close to clipping (watch Scott Peterson's video on using the Utility input/output meters in the Axe to set UNITY), that if I wanted to turn something up, like for instance a scene output, I had no where to go. Instead of turning up the one scene I wished was louder, I had to turn down 5 other scenes, which of course is more of a pain in the butt, while 4-5 bandmates are standing around tapping their foot and waiting. Now I make sure I have healthy headroom before max. And that allows me better consistency between scenes and between presets. Because of course, sometimes you want intentional boosts and intentional cuts in volume to suit a song situation.