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There's a complete discussion of this issue on the thread you started on the Muvipix.com forum, Alain.
I should have introduced a reference to the other thread (http://muvipix.com/phpBB3/viewtopic.php?f=57&t=3911) in my original post.
I was hoping opening the floor to another forum would yield different ideas.
To create effects presets :
Apply an effect to a clip in the timeline. Now navigate to the Properties panel and change / tweak the settings as desired. Now select the effect and rightclick on it and choose save preset.
When you do this, the effect preset would be saved in the my preset folder.
I hope this helps. Please feel free to ping back.
Thanks for your post, but it doesn't solve my issue. There seems to be a bug in the creation of folders in PE7 My Presets.
A very good workaround was found and documented on muvipix (http://muvipix.com/phpBB3/viewtopic.php?f=57&t=3911).