Changing effect parameters
When an effect is selected in the effects list, the parameters panel on the right-hand side of the Video effects tool window provides controls for adjusting the effect’s parameters, if any.
The controls for the basic library of effects supplied with Studio are covered in this help file according to their effects browser groups: Cleaning, Time, Color, Fun and Style.
Add-on effects (see Building your effects library), are described in their own on-line documentation, which you can access from the parameters panel by pressing function key F1 or clicking the help button 
at the top left of the parameters panel.
Note: Some plug-in effects may provide their own parameter windows with specialized controls. In those cases, the parameters panel on the effects tool displays a single Edit button, which accesses the external editor.
In order to simplify the use of parameters, many effects offer presets that let you configure an effect for a particular use simply by selecting a name from a list.
In Studio Ultimate, there are two kinds of preset: static, which store a single set of effect parameters, and keyframed, which store multiple sets of parameters in the form of keyframes.
In versions of Studio that do not support keyframing only static presets are available.
Often, the quickest way to configure an effect is to start with the preset that comes closest to what you want, then fine-tune the parameters by hand.
Resetting effects: A special type of preset is the factory default setting of each effect. The default can be restored at any time by clicking the Reset button at the bottom of the parameters panel.
If Reset is clicked when keyframing is in use, the default parameter values are assigned only to the keyframe at the current movie position. That keyframe is created if it did not already exist.