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I should have remembered this earlier.

Select the group of objects, then choose "Group as Subgraph" from the Arrange menu. Your selected items are now placed inside a shape. You can draw connections to this shape, and also draw connections to the objects within the shape. The subgraph shape can be given a label (default is "subgraph"), and you can do some formatting (can't change the shape to non-rectangular, can't change the corner radius, can't designate magnets, can't turn off stroke, but you can set the stroke to be a 100% transparent color).

And now some magic: a subgraph is a special shape .. you can cause it to be shown in full detail, or collapse it to a much smaller labelled shape.

It's what you want =)