Back when I used Reason, its mixer used 32-bit internal processing, so even if individual tracks completely pegged their meters 100% of the time, the headroom of 32-bit processing made it impossible to clip. The only signal/meter you had to worry about was the Master going to your audio interface.
Does Rack work the same way? In other words, is it inconsequential if I peg individual channels on a mixer module as long as I keep the master from hitting 0dB and/or place a limiter just before the Audio-8 module?