Well, I found the answer here. Seems to be confirmed that the Mark V EQ is before the FX loop.It looks like the effects loop in the VII is after the preamp and right before the 5 Band EQ.
Is the Mark V wired this way or is the effects loop after the 5 Band EQ?
From the manual of the VII "The Effects Loop is basically a circuit bridge from the end of the preamp to just before the Driver stage, with the SEND interrupting the signal at the preamp’s end and the RETURN feeding the signal back into the power section just before the EQ and the Driver tube."
https://boogieforum.com/threads/mark-v-where-is-located-the-graphic-eq.72465/#post-491016
Is there any technical reason why this would make a difference in tone? The Mark VII and reportedly the original IIc+ have the graphic EQ after the FC loop. Does it matter?