myniecechloe,
I'm new at this but I think I know what your asking.
Multitrack View
You can add real time effects non destructively (not permanent) like reverb, chorus or delay. You can then remove, edit or mix them as you please.
Locking the effect prevents your processor from slowing down because it has to work hard to process these effects. I find that while I'm recording or mixing It's best to close all other programs, including your internet connection, firewall & anything else.
Wave Form View
You can add any type of effect in this mode, or use it to preview
the effects. But once you have added an effect and you go back to Multitrack mode and save your session & wave files, it's a done deal. The effect is forever printed on your track. It's a good idea to keep your original track and rename your new track with the effect added.
I'm still learning CEP but searching the archives for old messages had helped me tremendously.
Later
D.A.
(It's all good!)
