Noisebud has released Noisebud MidiVU 1.0, a free VST effect plug-in for Windows that converts audio signals into MIDI CCs so that you can monitor you audio visually on MIDI controllers with Led feedback while playing live.
Noisebud say: "We made MidiVU since similar plugins sent huge amount of MIDI data that made our host crash when we wanted to monitor more than 8 channels. In Noisebud MidiVU you can set the amount of data it sends, higher rates gives more accurate monitoring, lower rates saves MIDI headroom and the plugin doesn’t send any data at all if there’s no audio present."