Babs...
The unit you gave the link to is a guitar level (also called low-level) unit. Both of the outputs require connection to a preamp type device to raise the low-level signal to line level.
As a rule of thumb... power amps are driven with line level signals, preamps are driven with low level signals. A low-level signal is typically around 50mv (0.050 volts) or less. A line level signal is usually a 1.0 volt signal. Since signals can have peaks exceeding these, consider this a rough average - just to see the relative difference in signal strength.
What would happen if you used a line level output (preamp out of your concert) to drive a low level unit and used the output of the low level unit to drive a line level input (concert poweramp input)?
Probably both of the situations you mention. Turning up the volume on the concert preamp could drive the effect into distortion... and the effect might have too weak an output to drive the power amp to full output.
Will it hurt to try it? Not if you keep the concert preamp at a very low level and control the overall level with the effect volume control. You will get sound through it... and you will have to be the judge as to the level being sufficient for your particular use.
Would I do it? Nope. This type of setup would give you much more noise out of the system then you would probably be confortable with.
Especially with a compression effect - as it will raise the non-playing noise level (noise generated by the concert preamp) that would normally not be present with the effect directly driven by your bass and then into the concert as it was designed to be used.
As to how you can tell from the specs... a line level unit will say that it is a line level unit. If it doesn't say so... and especially if it is a stompbox type of effect, it will be low level.
I use a Digitech Legend 21. It has a "secondary effects loop" that allows me to plug into the second part of the unit which is line level and gives me effects like delay, echo, reverb, chorus... etc. I bypass the first part of the unit which is a low level preamp since I don't want the unit's distortion, compression and tone controls.
If your speaker is a 4 ohm unit, you won't need the extra speaker jack, as it is not a wise idea to go lower than a 4 ohm load with the concert. On the other hand, if you have two 8 ohm speaker enclosures, I'd do it in a heartbeat!!