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I think it would be better to do this with outboard analog gear than "in the box". I'd do it with a crossover, set to 100 Hz. Use the crossover to split the audio before the compressor, route the HF through the compressor, then sum the output of the compressor with the LF using 2 faders. That would be a clean, accurate way to do it.
No matter what technique you use there are many things that can throw the LF/HF balance awry and you'll have to adjust the final balance carefully. It could be done by ear or Protools or metering, using music, tones, or pink/white noise. I would get everything flat and balanced with the compressors (1 or 2? stereo compression?) in bypass, THEN add compression and make up gain to the HF side.
A side chain insert consists of a side chain out and a side chain in. You are interrupting a portion of the audio signal, sending it via some output to a processor, doing something to it then bringing it back via an input and recombining it with the rest of the signal.
If this sounds overly complicated, sorry!
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