I know a lot about the Banshees and a little about Severins gear... this is from my early teenage memory bank, a guitar player interview around the time "Tinderbox" was released... the live video your talking about was probably "Nocturne"... I was only about 14 but I remember he used a selection of Wal's and Musicman basses... he actually used minimal effects, flanger, chorus, mainly boss stuff if I remember, and SVT amps...
The Guitar player interview was a few years later, it featured the whole band discussing their equipment... he'd moved back to Jazz basses at this time and was still using SVT's. His effects remained the same also. He pretty much had the same sound his whole carreer, boosting the mids heavily and flanging them to varying degrees... different albums meant his sound was used differently by different engineers but you can tell he was always going for the same effect. He knew, and filled his role in that band very well.
an interesting player really, not the most technical but very interesting lines and great interaction with Budgie who remains one of my favourite drummers ever...
