Man, this is becoming so handy. A bit of a bother to setup. But I can just get referenced model after referenced model and let ICE fix the reference paths and not breaking anything :D The issue I was having was a matter copying the Tree to a new ICE Tree, since some parameters were created after the ICE Tree.
By the way Is there a way to set references into attributes. Per model is handy to centralize the reference roots (without attributes) so that if I need to change them I just need to change them once and not go through the whole model looking for red nodes and fixing them. A "String to Reference" could sort this. Cheers