You don't drag stock effects around. You create custom presets by right clicking on an effect in the Effects Control Panel (which means the effect has to be on a clip). Those you can move around.
This was Adobe's explanation...which didn't say anything about making a "custom effect". It just sayd to drag effect to custom bin.
Create bins of favorite effects
- In the Effects panel, click the New Custom Bin button , or choose New Custom Bin from the Effects panel menu. A new Custom bin appears in the Effects panel. You can rename it.
- Drag effects to the Custom bin. A copy of the effect is listed in the Custom bin. You can create additional Custom bins, which are numbered.
- To rename the custom bin, click the existing name to select the folder, click it again to select the name field, and type the new name.
But for some reason, It descided to work after you both deemed it so...lol! Thank you!