I use the Oxford as my standard EQ in Nuendo since several years now, and never ran into problems concerning the band-limits. If I would need 4 bands higher than for example 6kHz I guess it’s not shaping the sound in the mix, but having soundproblems which I propably would delete offline via restoration-tools or postfilter.
The thing I like with the limited bands: It makes my EQ-midi-controller (perfect for this: BCR2000, I have mapped the Oxford permanently to this one) a precise controller, since each band is split in to 128midi-values. Midi-Controlling the complete bandwidth with just 128steps is crap. But, OK, I admit: Midi-Controlling is of course a bit “yesterday”.