| Those jacks are intended to slave another amp and cab(s) from the one that has the guitar connected to the input.
I can't answer your question about using these as an effects loop, but it would seem intuitive that it could be done. If it was my amp, I would use a cheap (ie. expendable) pedal and try it out. If you blow up a pedal you paid $20 for, it's really not much of a loss.
My experience with effects loops that are labelled as such on SVTs like the CL and VR is that most effects pedals work better between the guitar and the amp input.
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