So I was going to try this out at the local Guitar Center. Unfortunately, there was a guy already doing a demo with it...using a Headrush board instead of the Helix. Which Guitar Center didn't have to even use as a demo. I'm pretty sure he bought the HR, too.
To BigJayBrian's point, an FRFR should really have the necessary range to handle both. While it seems to have the same relevant handling of a small Bass combo (eg. Fender), it does make me question using it when Line 6 says it's not designed to handle it. I view that as a bit of a feature gap when you're intended target for this speaker is multi-effect boards like the Helix that have modeled bass amps and cabinets. I know the primary users of the Helix are guitar players, but many guitar players I know use a bass a fair amount, too. Just sayin'.
For my personal purposes, I'll be using it 95% of the time in the studio. However, the opportunity does arise for me to sit in and play bass sometimes. Having one rig that's the same and covers all this ground is ideal. Right now I'm still on the fence or looking at the competitor offerings.