i never used the tonelab but i suppose must be like the other multi-effects.
u just need the usb connected to the computer (to record that is). u might need to configure the sound card for in/outs as well.
u don't have to monitor urself through the computer, u can plug earphone or amp to the tonelab if u want.
the software: i dunno what software u r using to record, or what computer/OS u have for that matter, so can't help u there...