Make sure the timing where you are trying to insert is equal or greater than the saved effects. I have noticed in the past that if I try to insert a saved preset effect into the grid and the current timing is shorter, it won't show up. Makes it look like it isn't working. In that case, I'll move to a grid cell that is longer in duration, insert the effect, then just move it over to where I want it and shorten up the timing to match and change the effect settings if needed.
