Existing effects can be replaced with another effect type directly in the editor. Select the effects you want to replace with a different effect. Hold down the Control key and drag the new effect you want anywhere on the timeline. You will be prompted to confirm you want to replace the selected effects with the new effect. Once you agree, all the selected effects will now be replaced with the new effect set to it’s default. All of the effects will still be selected and you can edit them all at once.