A lot of people like to track with a splash of reverb to give their fold-back monitoring a sense of space.
To achieve this with the iD14 you simply need to set up a Reverb plug-in on a bus on your DAW. You would set this to output to outputs 3+4 on the iD14. Then using the CUE mix function, you can set this up to play back both the dry signal from your microphone inputs and the reverb from 3+4 through your headphones for tracking.
This would introduce some latency as the signal has to into and out of the DAW. As long as you set the reverb to fully wet, this will be only heard as a small pre-delay which gives a nice seperation between the dry signal and the reverb, allowing you to hear yourself a little clearer. The balance between the dry and wet signal can be set using the cue mix knobs.
Using this setup you can also add additional plug-ins to your tracking mix such as EQ, Compression, De-essing and anything else. Just be wary that adding more plug-ins will mean adding more latency