First of all, if you are using LPX, then Hyper Draw is now MIDI Draw.
MIDI Draw is basically MIDI Events (and Fader Events) stored in a Region, made visible as Automation Curves either in the MIDI Draw Area of the MIDI Editors or directly on the Regions in the Tracks Window.
Regarding the "visualization", the new Region Automation is basically the same, it shows the Events directly on the Region in the Tracks Window. One advantage of the Region Automation is that the various Control Change data are now part o the "Automation Parameter" and shown on the Automation Parameter Menu button. That Button has a hidden feature (move your mouse over it), a Power on/on button. This lets you disable individual MIDI Event types, i.e. Modulation, Expression, etc. If an Automation Parameter is disabled, then it turns gray.
Here is a tip. In the Event List, all those MIDI Events that were turned off in Region Automation have a dot in the first "L" column".