DigiTech CabDryVR Little Helper Yellow

Would this work well for live sound in the following chain? guitar > line 6 m13 multifx > joyo american sound > digitech cabdryvr > di box > board

Can i connect this (stereo) to a mixer using two xlr male to 1/4 trs balanced cables?

whats the difference between this one and the 169.00 version that I see an guitar center?

Want to clarify...if i plug into mono a, will the cabdryvr split the signal to out a and b, or do i need to split prior to the cabdryvr?