It's possible that with an update, a CS that you create could be saved and Linked to a Performance or Songbook entry... but ONLY if you go to Korgforums and beg for it!
You could store CS's on older Roland's, but you couldn't Link them to Performances, so it was of limited value in a live situation..
But the charm of the CS, in the end, is of capturing what you JUST played... That way, if you feel like reharmonizing, or changing things up a bit one time (who hasn't? LOL) you don't get stuck with a rote Chord Sequence. TBH, I've been pushing for a re-naming of the CS for a bit now. In truth, it isn't REALLY a 'sequencer' in the sense of how most of us use that word. I like to call it the 'Third Hand'.
That seems to sum it up better!
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An arranger is just a tool. What matters is what you build with it..!