It's all in the detail! (Of course). Here's some example code that does work!
<!-- Pan Controls -->
<label x="2" y="0" text="Pan" width="40" height="20" textSize="15" textColor="FFFFFFFF"/>
<label x="2" y="18" text="L C R" width="40" height="20" textSize="12" textColor="FFFFFFFF"/>
<control x="-2" y="10" parameterName="Pan" type="float" minValue="-100.0" maxValue="100.0" value="0.0" trackForegroundColor="FFFFFFFF" trackBackgroundColor="FF000000" width="50" height="20" style="linear_horizontal">
<binding type="amp" level="group" position="0" parameter="PAN" />
</control>
<label x="42" y="0" text="Pan" width="40" height="20" textSize="15" textColor="FFFFFFFF"/>
<label x="42" y="18" text="L C R" width="40" height="20" textSize="12" textColor="FFFFFFFF"/>
<control x="38" y="10" parameterName="Pan" type="float" minValue="-100.0" maxValue="100.0" value="0.0" trackForegroundColor="FFFFFFFF" trackBackgroundColor="FF000000" width="50" height="20" style="linear_horizontal">
<binding type="amp" level="group" position="1" parameter="PAN" />
</control>
<label x="82" y="0" text="Pan" width="40" height="20" textSize="15" textColor="FFFFFFFF"/>
<label x="82" y="18" text="L C R" width="40" height="20" textSize="12" textColor="FFFFFFFF"/>
<control x="78" y="10" parameterName="Pan" type="float" minValue="-100.0" maxValue="100.0" value="0.0" trackForegroundColor="FFFFFFFF" trackBackgroundColor="FF000000" width="50" height="20" style="linear_horizontal">
<binding type="amp" level="group" position="2" parameter="PAN" />
</control>
<label x="122" y="0" text="Pan" width="40" height="20" textSize="15" textColor="FFFFFFFF"/>
<label x="122" y="18" text="L C R" width="40" height="20" textSize="12" textColor="FFFFFFFF"/>
<control x="118" y="10" parameterName="Pan" type="float" minValue="-100.0" maxValue="100.0" value="0.0" trackForegroundColor="FFFFFFFF" trackBackgroundColor="FF000000" width="50" height="20" style="linear_horizontal">
<binding type="amp" level="group" position="3" parameter="PAN" />
</control>