Dither is the process of "dithering" down from a higher odd sample rate to a lower one, for example from 96Khz to 44.1Khz - the computer has to calculate what bit are left out and what remains (since it's essentially cropping out data). This is where the dithering algorhithm comes in, and they may vary a bit. I think if you use an even sample rate (like 88.2Khz - double the 44.1Khz), there wouldn't be need to dither, because it'd just remove every other sample.
So basically, you just need a good dithering process to get the good sides of a 192Khz signal into 44.1Khz, which is the CD standard. I've never really had issues with Live's rendering, but then again I always just record straight in 44.1.