The signal flow of the OT is explained in Merlins’ guide. The reason why things work like they do is that the amp page settings take hold before going into the FX:
MACHINE == AMP PAGE == FX 1 == FX 2 == TRACK LEVEL == (MASTER)
Therefore, any gainstage set by the amp page will occur before hitting the fx slots.
It is indeed not ideal that the lofi does not have output trim, but it is what it is…