I’m less than a week in on the AX8, myself: but I can think of three things to be looked at in the overall context of the hollow body as you describe.
1. The first thing I'd look at: Does a different speaker cabinet model or lowering the resonance of the one you are using pretty much solve the problem? This might be the case, since it sounds good with your other guitars. If speaker cab (or cab model) resonance and the guitar resonance are in the same range this would be causing a super-additive effect overpowering the bass and lower midrange. If this is the case, then the required PEQ tweaks will also be much less.
http://forum.fractalaudio.com/threads/about-speaker-lf-resonance.78003/
2. IME: With hollow and semi-hollow bodies the bass energy might not be expressed primarily as the fundamental: but in the harmonic series: for example: a G2 is 103z, but may give a larger peak at G3 207 hz or G4 415 hz: so rolling off the amp’s bass doesn’t address the right frequencies: Using
mr_fender's method - you'll probably find a PEQ attenuation somewhere between [ballpark] 100-180 hz low and 400-600 hz high will reduce the excessive energy causing mud and distortion, and retain the fundamental of the bass. It will depend on the resonance of the guitar, as well as the specific amp etc.
3. There are advanced settings regarding the power amp that can reduce the propensity of the low end to distort. I haven’t dug into this sort of thing yet: but there are posts and threads to that effect on the forum.
You’ll get it solved. I’m quite the semi-hollow body aficionado myself, so I’ve encountered your problem with real amps, but not with the models I’ve used in the AX8 thus far.