This has been something of a thorny bone of contention in several discussions Pancenter.. I believe you are correct.. but, if a core is being used outside of Logic.. then does Logic's own meters take that into account or do they ignore it? If it ignores it then what is the real load on that core.. and would it overload even if Logics CPU meter wouldn't show it doing so?
I have never found anyone who really knew one way or the other.... and could prove it 🙂
This is why i don't trust Logic's CPU meters... I just don't think they accurately reflect true usage at times... which is why i suggest ignoring them unless you get a CPU overload message or you can actually hear audio issues etc...
Also, as i have come to realize since posting that.. certain plugins (when loaded) can do strange things in the background that can affect LPX's CPU meters.. like Massive for example, when it decides to reindex it's 'presets' after you save one new preset you create yourself.. LPX shows that activity in it's meters...
Much like mdworker/spotlight in the OS X Activity Monitor... Massive can run 'wild' for a while pushing up the CPU usage on one core.. and then it just stops again... The more presets in the database, the longer it takes and the more load it places on the CPU!
One last thing however with LPX... I've noticed some strange behaviour with Core load sharing.. On occasion the load sharing is just plain wrong/screwed up with loads being placed on only a couple of cores no matter how you try and manually spread the load yourself. Restarting CoreAudio usualy resolves this... and the same project will then playback showing loads spread across the various cores as you would normally expect them to do so.
I suspect there is still something screwy with LPX/CoreAudio/OS X in regards to this whole issue.