About Presets
Some of the MIDI effects come with a number of presets for instant use.
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MIDI In/MIDI Out Activity
Indicates if the plug-in receives or transmits MIDI data.
Save Preset/Remove Preset
Allows you to save your settings as a preset or to remove saved presets. Saved presets are available in the Select Preset pop-up menu for all instances of that MIDI plug-in, and in all projects.