Since you mention Overdub + Crossfade, if I understand this correctly, that's actually something from the EDP that exists now, and it has to do with using the Feedback control. There are several ways to do an overdub. The Overdub function combines new content with old content at the same level, unless you reduce the Feedback level. If Feedback is all the way up, then there is no reduction of the old content. Feedback can be turned down and up in real-time as you do an overdub to accomplish something like a fade out of the old content.
There is also the Substitute function from the EDP which can accomplish similar things.
If you want true crossfade where both the old content gradually fades out, and the new content gradually fades in, you would combine Overdub+Feedback with Input level control. Start with Input at 0 and gradually raise it, while Feedback starts at 127 and is gradually lowered. This is possible with scripts, but it needs iteration like I mentioned earlier to keep the scripts short.
This kind of thing is common enough that it may make sense to build in some of this without needing scripts. That does however add more knobs to the space shuttle.