The effects in the Effect menu don’t create new tones but modify existing tones. A good way to get the hang of the Effect menu plug-ins is to apply them to tones created in the Generate menu. A sine wave is great for experimenting with effects because it is a simple tone and you can hear exactly what the effect does. Another good test tone is a simple recording of your own speaking or singing voice.
Note the Repeat Last Effect (ctrl-R) command at the top of the Effect menu. This is a fast way to reapply the same effect with the same settings.
Probably the most popular effect in audio editing is reverberation. You have probably listened to commercial music recordings where the reverb was laid on too thick and it sounds ...