Hi Steve, thanks for the reply!
I just tried the manual reset and the quick method, neither of these solved the problem.
However, I was unsuccessful at getting a dialog box to pop up with the quick method so maybe I'm not doing it right... I tried pressing CTRL+ALT+SHIFT as fast as I could.
Is there something I'm missing or a different way of doing this?
I am using Windows 7. I just used the quick version to reset the preferences and it did not restore the Effects.
I will give that a try! Thank you!