Just for the record.

Drew Smith at Disaster Area Designs was very helpful and he gave the solution to my problem.

I was surprised that the answer was actually a Space-related issue rather than in the MIDI controller.

I will quote what he said to me:

You will need to enter the System Menu on your Space.

Then, navigate to "MIDI".  From there, to "RCV.CTL".

Then, navigate to "ACT"(activate) and press the right button.

Next, you can load any preset and press the right button on your Space to "LEARN".

Pressing the preset button again to learn bypass.

You should see C.102 on your display and bypass will be learned.

Exit the MIDI menu and it should work.

And indeed, it worked!

Now I'm just suffering of the ~2 seconds of lag when changing presets with MIDI.

Thanks to everyone!