New effects features in the 10.8 update to Final Cut Pro, when combined with existing effects features, make your post-production life faster and more consistent. These include renaming custom effects and building effects presets.
NOTE: This tutorial illustrates video effects presets. You can also build audio effects presets the same way.
RENAME EFFECTS
New with the 10.8 update is the ability to rename an effect. While you can rename any effect, this is especially useful when you have customized an effect and want to remember the changes you made when you apply it to other clips.
To do so, select any effect added from the Effects browser in the Video Inspector and click the downward-pointing chevron at the top right corner (red arrow).
This effect labeling is especially useful when combining effects into a preset.
VIDEO EFFECTS PRESETS
You can save a collection of video (or audio) effects as a preset. To do so, create the look you want, using as many effects and Video Inspector settings as necessary.
Click the Save Effects Preset button at the bottom of the Video Inspector.
NOTE: Though not illustrated here, Video Effects presets can also include color changes made in the Color Inspector.
In the resulting dialog, check all the custom effects you want to save. By default any effect which has changed from the default is checked. (To avoid saving a setting, uncheck it.)
In this example, enter the revised name in Name (top red arrow) and determine in which effects category to store it (lower red arrow). You can also use this Category menu to create a new category for all your custom presets.
As soon as you click Save, this custom effects collection is added to the Effects browser, in the category you selected.
To apply a preset:
SUMMARY
While renaming an effect only applies to that specific effect in the Video Inspector, the ability to create Video Presets along with custom effects names means that when you apply that preset, the names of the effects you changed can explain the changes you made. This allows you to know what you did and what to adjust if tweaks are necessary.