Effects can be stored in a preset, and those presets can be used to create submasters and cues. However, the effect's data is only copied to the submaster or cue, it is no longer referenced through the preset.
For more information, see Effects in Presets.
To apply an existing effect, press:
Recording to a preset, press:
Pressing [Effect] after [Record] [Preset] [x] will append {Plus FX} to the command line.