I'm still getting used to my keyboard, but with the Ableton DAW setup, it does seem to integrate quite well for me. The big knob scrolls through scenes, the DAW command buttons work as they should (as indicated on the Ableton overlay), the little left/right arrows switch tracks...
My biggest complaint right now is that I don't care to use the rotary knobs as track balance controls. I want them to act as the quick controls for effects and instruments. Still trying to figure that out.
Did you remember to select Ableton as the DAW(by holding the "DAW" button for a couple seconds)?