In another thread (Memorizing Cards orsomething like that), There are some comments that are pertinent to this question leshead. In essence, yes, on a multishoe game, you are better off not playing the negative parts of the shoe if you can get away with it. Much of the time, when using KO and starting your count at -20, it can take a majority of the shoe before you get to your Key Count. You are playing at a disadvantage on those hands and even though you have the minimum bet in the circle, you are better off not playing them.
It can be a little tricky figuring out when the deck is "negative" with KO though. The way I've been working it is to assume that each deck played has to increase the count by +4 in order to remain "neutral" (counting the four 7's as +1 adds 4 to the KO count making it "unbalanced." If after the first deck is played and you have a count of -16, you are about where you started....much like +0 with a balanced sysem. At -17 or less, you are "negative." With two decks played, you would need to be at -12 or greater to hang around. With 3 decks in the discard tray, you would be neurtal at -8 and with 4 decks, you should be at your Key Count of -4.
It is likely that I am overly pesimestic with those criteria listed above. Maybe someone who has the correct equivilent Counts for KO versus Hi-Lo in identifying the negative counts conditions could speak up and give an authoratative response here. I have received cell phone calls, had a coughing fit, dropped chips on the floor....anything to excuse me from playing a hand or two. I've even stooped to declaring to the table that I'm sitting out a few hands to "change the deck or to change the flow of the cards!" That last one is hard for me to pull off with a straight face!