Hi Paul,

Yes there are more effects than that :) Page 34 of the manual gives you all the effects and how to use them. If you don't have the manual you can download it here -> rane.com

Yes, there are definitely more than two effects, but there are only two "effect blocks" within the FX window.

Each effects block has a small downward pointing arrow next to the effect name, click on it and you should see a drop down list of additional effects.