Maybe it is (have no more time to test it out)
Looks more like a plugin that will transport your soundcards output to a wave-file or a different soundcard. And the output is amplified at distortion rate so this plug is pretty useless (for it’s wave-writer at least) Owhyeah:it only does 44Khz output.
Then about recording: Renoise does not record sound, so i think this thread would fit into the ideas and suggestions thread that discusses the integrated sampler that records audio rather than in the tips and tricks.
Though it is nice to put it in the master-track and you can use this plug as output monitor by rerouting it back to your MME audio card. (When you render to sample or render to disk, you can listen if certain samples are being rendered correctly when Arguru’s Sinc integrity mode is being used)