WaveLab

You can create ad effects from a drop-down list in that panel on the left. It took ages to scan my effects library and I haven't got a huge effects library, maybe a hundred,. But it took 20 minutes, which is a bit worrying and found all kinds of incompatible ones. Yeah, some did work. You enabled the real-time effects that opens a panel and then you can created ad effects  from a drop- down list in thatpanel on the right. Now, people did give them a lot of shit when they were bought out and made some PR gaffs, but come on, this is real progress, real feature additions here.