Have the same problem on a track stack that's submixing a (producer) drum kit designer.
Inserting the LP EQ on the track stack incurs the full 52ms latency that should be compensated for.
As for the manual stating that one should use this EQ purely for mastering... that's pretty flawed. Any artifacts resulting from an IIR EQ will make their way to the mastering stage - specifically the phase shift cause by an IIR HPF which ruins your headroom by shifting early harmonic peaks into each other, resulting in more volume but no change in perceived loudness. This will then stress subsequent compressors/limiters/dynamic processes right through to the mastering stage.
Also, if an IIR HPF is used on a snare bottom for instance, it will push the fundamental/harmonics out of phase with the snare top and anything else (Overheads) that it's been phase matched with, so LP EQs are very much mixing tools.