Absolutely. Just go to Event List. I like to hit the "insert" key on my keyboard. A dialogue will open up. Put in the channel number, type of event (controller), type of event (volume=7) and finally value (0-127). You have to put in two CC events if you want to use both CC7 and CC11, one for each.
Personally, I use CC7 for the overall or base volume level, to equalize my various vsti's. Then I use CC11 a to fine-tune it "on the fly." This is the usual method. There are exceptions. For Garritan Personal Orchestra, for example, you only use CC7 for volume for the percussion inst's. They don't respond to CC11. I think this is so they can be louder. And for some vsti's, like East West Symphonic Orchestra, CC11 actually changes the timbre of the inst. For example, a CC11 of, say, 90, will give you a soft French Horn. Whereas a CC11 of 110 will give you a "brassy" or edgy horn. But with their strings, it functions more as a volume setting.
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