I'm not going to remember something I said over a year ago, so if you want to bring up anything basically over a week old, please direct me to it. And I'm certainly not going to hold in my mind the exact model of a fixture from a company that while I have fixtures by them, is a company I generally speaking do not like all that much. So the fact that I recall that there is an exception is a freakin' miracle all unto itself(for me anyways!)
Please understand I'm supporting IT, audio and lighting, as well as MIDI and some electronic circuit designs in addition to production on various events coming up and some product designs(datacomm hardware). So, in the case of this forum, I can only deal with what is directly in front of me.
If memory serves, that Chauvet fixture has a dedicated SLAVE OUT port. So, you're not mixing and matching on the same wire. You're going IN on that fixture with DMX via the DMX IN port, then that fixture is sending DMX OUT via the DMX OUT. The SLAVE OUT port is a side-chain type device, where it's spitting it's own langauge out that port for the master/slave communication. So, you have your DMX as ONE run, and then your master/slave stuff as a sepparate run. Again, my statement of no exceptions still holds true. You have to understand how the fixture operates to understand how my statement is still true.
Now, if some newbie came over and was running some DMX fixtures in a zone 1 on the left, and DMX fixtures in Zone 3 on the right, and then some sound active stuff doing master/slave in the middle, well, it would get rather strange for zone 3 on the right, assuming we're wiring from left to right. That's really the biggest concern. We have to get newbies to grasp that master/slave and DMX are mutually exclusive on the same wire. We also have to get them to also understand that you can't mix and match Master/slave and DMX modes, with that one exception(since you're bringing it up).
The best bet is if you want to emulate master/slave thing with DMX, is take a nice lazy route and just duplicate some DMX addresses for like fixtures. It's NOT perfect, but it works, it's tried and true and reliable. But it does fail when you go into a sound active mode, provided there is a sound active mode in the DMX traits for that fixture type.
But if you just gots to have Master/slave, BUT at the same time need control over on/off, your choices are to run them off a DMX dimmer or switcher pack in switching mode on those channels What's nice on the Mega Bar 50(and probably on other fixtures by now) os that not only can you chain the DMX signalling, but power as well. Quicker set and neater. This would probably be the best solution to give you a best of both worlds. DMX to the switcher channel, then power to the first fixture. Then, a DMX cable from the DMX OUT of the first fixture and into the DMX IN of the second and so on. Assign your master as the first and you're done. Or, also do what I do: label your stuff so you don't have to deal with it come show time. I use some tape with the fixture number and DMX address on my bar fixtures. In your case, you could mark the master and be done. That would save some time. Since the rest are slaves, marking them wouldn't be as necessary.
Also, let me offer a couple of things about Chauvet, which are documented. I have personally experienced a massive quality control issue with a certain fixture they make. Of the 4, all 4 love to break bulbs(I now transport them with the bulbs removed and only place the bulbs once the lights are at least in place and set, but maybe not focused and they still break bulbs), blow bulbs prematurely, and fail quite frequently. The odd thing was I've run into at least 20 other people who've said the same thing about the same fixture. I've had 2 go in for service this year, the second being on their bench right now.
When I call for help, I get attitude like it's MY problem their fixture isn't working as it should be, as if their gear is infallible and could never be faulted and then get hung up on. Repeatedly. Like, when their shutter at value 255 is BLINKING and it's supposed to be FULL OPEN. Or their spots suddenly start getting wonky on DMX for no reason....
I find there truly is a reason for their products being priced cheaper than ADJ. Because you get what you pay for.
I'm not saying ADJ isn't perfect either. I've had a 64 LED Pro go in for service twice this year, and again, that fixture is on their bench right now(or I think it is, they at least have it).
Now, one issue you're going to run into is needing to get that dimmer/switcher pack. The ADJ/Elation DP-DMX20L has been upgraded a while back to include the option to set each channel to your choice of dimming or switching on a per channel basis. This caused the PP-DMX20L relay pack to be discontinued. So, if you're looking for USED, the DP-DMX20L is the better option because it's better made, BUT ask to ensure it's one of the newer ones that have the switching feature in it. I have 3 of the older ones that do not have this feature, but it's OK for me since I use it with ParCans. So take that warning if you're going to buy used so you don't screw yourself. It's a super easy issue to miss because if you don't know in advance, how would you otherwise know?
I think you'll like the ADJ bars better. With a little creativity, you can make it happen.