NanoAVR crossover capabilities ?

I have a question about the nanoAVR -

Could I use it with a typical off-the-shelf 7.1 HT receiver to perform the following

1. Stereo Input -> NanoAVR -> Receiver -> Stereo 3 or 4 way outputs

2. Surround Input -> NanoAVR -> Receover ->LCR (left center right), 2 way outputs + disregard surround ouputs .

If so, It seems a great way to re-configure a typical home theater receiver outputs to work with some of the more interesting multiway projects on this forum (synergy horns, multi-way Open baffles ).

A regular minidsp 2x8 (or 2x4) can achieve this, but if a NanoAVR can do this (in a much neater and compact solution) with the added bonus of custom delays, EQ, level matching etc per channel, that would be awesome.

Anyone ?