Currently I'm wiring everything up. The trouble with browsing sites like Sparkfun is you end up with major project scope creep as you find all sorts of nifty doodah's that would look lovely on a little DIY synth project. Everything doodah means more design, testing, wiring and most of all coding. The result is the physical build takes much longer.
I was testing the Midi channel from Teensy to Axo last night and found a big issue. I had soldered a little header behind the MIDI IN socket and was pushing CC from the Teensy serial. This works great. I then parallel tested by driving the Axo from my Midibox while knob twiddling from the Teensy. Operationally this works fine. This axo doesn't care where signals come from but as soon I play the Midibox I get big signal induction into my speakers with a lovely tickblurbblargwhumpwhum along with the playing sequence. Even with the mixer turned off. Ugly.
Lots of wire waggling, moving stuff around, plugging unplugging later and I realise it's the 5v signal I'm backfeeding from teh Axo 5v header into teh Midi socket to complete the circuit. Turning the Axo into a giant inductor. My Teensy and all components are also fed from the Axo 5v so I had no way to isolate the problem.
Removing the 5v from the Midi header solved the feedback but it was getting late and I didn't notice if Midi still worked without it. Probably not.
To solve this I'm reverting to Hugo's GPIO midi patch and use GPIO instead.