Effect Presets
After adding an effect, you can choose a preset under the Preset column.  The number of presets and preset types will depend on the effect.  You can create your own preset, for any type of effect by clicking the Edit button, changing the effect settings to your liking and then saving the preset.

(In the above example, there are three presets chosen: Percussion Tighten-Up, Slapback Echo and [Sys] Grand Hall).