When you apply effects and presets to a layer within your composition why is there no symbol indicating FX have been applied to the layer.
In photoshop if you were to apply a drop shadow to a layer it would indicate it with an FX icon on the layer.
In the image below I have a text layer that I added a "Fade out Slow" effect to. However, I see no indication on the timeline or on the layer itself that an FX was applied.
(please click image to enlarge)