I played my Mark II-B with a Quadraverb through the effects loop all through the 90's. I didn't notice any tone loss. In fact, since my Mark II doesn't have a graphic EQ, I used the EQ on the Quadraverb to help shape the tone post-preamp.
Quadraverbs themselves might have a little bit of reduced frequency response, but I have recently tried the same amp with a TC Electronic G-Major 2, with good results.
As long as the input volume is set appropriately on the effects processor, you should be fine.