You should absolutely be able to use EMU audio to have your Par lights react to audio. You just need to use the Sound tracker settings! Here's a screenshot of that portion of the interface:
Just select the channels you want to be reactive, and set the sound tracker levels. The Audio Band you select can be defined in the audio settings:
Whatever you have the range set to on that page, is what the audio bands on the Sound Tracker refer to, meaning you can customize the bands to what you want, and can then set different channels to react to different bands. For instance, you could have one group react to the sub band, while another group reacts to the Hi band.
I'm running some lights with my 20 min backyard fireworks show this year. I run my soundtrack on my laptop that I also have EMU on and then the would gets patched into my Mixer.
When I click the Audio tab while having the track play, I can see the meters going up and down and my soundcard is selected. Can EMU make my Par Lights react to my Soundtrack automatically or do I need some fancy DAW software to make that work? I was hoping I wasn't going to need to script the entire lighting part of the show. I just wanted to use the lights for some neat effects that would glow in the smoke. Having them actually pulse in time with the Soundtrack would be awesome.