I am nitpicking here.
Midi in this context is control signals to the instruments. You can't apply audio processing to midi tracks themselves. You apply them to the output of the instruments the midi signal controls. Applying edits to midi tracks and applying edits to the instrument or it's output's processing are two different things. Once you render the instrument's output to audio you can no longer apply effects to the midi data controlling it or the instrument's settings. The resulting audio track can still be tweaked as any audiotrack.

I'm pretty certain the OP has an understanding of how this works. The reason I wrote this is that nowadays it seems to become less and less clear as what midi actually is. It seems to have become synonymous with VSTi:s to a lot of people. It also seldom makes no practical difference. But in this business it is good to know what you are talking about.