The Seek modulator isn’t being applied on the Multiband EQ. I set up a Multiband EQ to handle occlusion, and to make the occlusion take effect smoothly when it kicks in, I added a Seek modulator to the Gain value — but no matter what value I set, it has no effect. It works correctly on the 3-Band EQ. Is this expected behavior, or is it a bug?
Just to check, do you mean the seek modulator has not effect on the audible output, or that it has no effect on the shape of the graph drawn on the multiband eq effect? I ask because according to my tests, the graph is drawn based on the pre-modulation value of the parameter, but the audible output is based on the final, post-modulation value of the parameter; as such, the audible behavior should be correct, even if the graph doesn’t show it.
Which filter are you using? The lowshelf, highshelf, and peaking filters all use the gain property.
Which version of FMOD Studio are you using when you encounter the issue?
Sorry, my mistake — it turns out I had applied a low pass filter and put the Seek modulator on the Gain value instead of the Frequency. After checking again, it works fine. Sorry, Joseph. 
This is so embarrassing — would it be okay to delete this post? 
I’m glad to hear you were able to get it working the way you needed.
Feel free!
You needn’t feel embarrassed about it, though. It was an easy mistake to make.