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For a while now, I've been searching for a way to save the parameters of an object within a device into an Ableton project. This way I could save 'songs' that I created using my system for future reference. I could also use this to save templates of songs to work on, such as a 'techno' project or a 'dubstep' project. This would improve workflow in the future, allowing me to work faster and more efficiently.
Initially, I found a way to do this by selecting any object in Max, opening the Inspector as enabling first the 'Parameter Mode', and then 'Initial Enable'. Once this was applied to all UI objects in a device and was saved, I could then change all of the parameters and save the project, and they would remain the same when I re-opened it next time.
[edit 06/09/18: later in the project, I slowly began to realize that by replacing Max UI objects such as [number] and [umenu] with their respective Live equivalent [live.numbox] and [live.menu], this entire process was unnecessary, and parameters were saved automatically]