After designing several layers using AE effects and presets, I add a text or graphic layer and it does not display. I checked all setting in both presets and text and even removed the effect. The new layer will not display. Also the undo does not work on effects. I choose undo effect and it still remains.
You may be bumping into the big bug that's been blowing up these forums lately.
Try working in CC 2014 (instructions here: How to Find and Install Previous Version of Adobe Apps in CC 2015 ) until the update comes out or try applying for the 13.6.1 patch update beta in the Adobe Prerelease Private Programs