This makes perfect sense to me and I find it a very valuable submission. This would certainly allow us to expand upon the current limitations of 4 tracks only and as long as we can seamlessly switch between projects on the fly, this would the THE way to overcome such limitations, by having the 4 sequencer tracks automatically mapped to different channels, depending on what project is loaded. Using up multiple project locations on the KSP for a single track, shouldn't be a problem either, as likely we can still get 4+ projects (minimum!) from the 16, if working like you suggested. Since we can backup projects to our computer via MCC, it is easy to create multiple tracks, dump them to the computer, then free up those 16 projects for additional projects and the cycle continues.
Awesome idea and can open up a lot of new possibilities, from a simple method of being able to reliably copy from one project, to the other.
I can't see others not agreeing. Perhaps put this request into support and link them to this thread, so they can see the feedback from others, on this idea?