So the latest update is now available in NZ - and the 3dm hotlink is active, which is good. However, it is not yet suitable for my project needs. I actually think the LCF observer would be more suitable...but it's no longer available, from what I can see.
With a hotlink, nothing about the object can be changed (e.g. element ID, IFC stuff, 2D display stuff, materials...anything). I can't tweak how it displays, which story individual objects appear on, embedded info etc etc. Also, the layers seem to get confused with linked blocks.
With the LCF Observer, even though it wouldn't be a live link, I could make all these necessary adjustments.
A pity we can't have both? Early days - I'm sure it will improve. In the meantime, I will just have to painfully and slowly document in Rhino (makes me re-appreciate how efficient Archicad is at this).