It seems the appearance of the [live.drop] object from Loop Shifter can be altered in ways that the one from the object palette can't.
The annoying "Drop Something Here!" (or whatever) attribute can be blank as opposed to " " or something.
The display of the dropped file's basename is not displayed.
Pretty nice, because you can handle these labels yourself then, just like Max's [dropfile] object.
Are the two [live.drop]s the same object? Am I missing something about setting [live.drop]'s attributes? Is it OK to copy the one out of Loop Shifter and use it in your M4L patches?