Is it possible to save changes made to effect parameters as a preset? For example, I came up with a nice compression setting I like to add to pianos and instead of remembering those exact setting it would be nice to save them as a preset so that when I want those compression settings I can dial up the preset.
No, if you are referring to storing just your parameter settings for effects, there is no way to separately store user Effect Presets. The "Presets" you see listed for some Effect Types are there as 'starting points' on Effect Types that have a wide range of uses - they "ballpark" a general area and are meant to be tweaked... But like all processing so much is on a per program basis.
When you want to recall that PART it can be recalled with your Effect settings.
Thanks for the info BM.
You could save your INSA and/or INSB settings as a SYSEX dump - then bulk send the data back to any performance you are currently editing to change the part. These would map to the same PART they started with - so I would assume changing PART 1's effects and then saving those -- and always expect to have to "swap out" the PART you want to change the effects to PART 1 before doing the bulk send.
There's other ways to do this too - save a copy off for all combinations of PARTs 1-8 (16 different save files - one for INSA, one for INSB, for each part 1-8). Then just send the one that matches the destination you want. Or, if so inclined, you could just edit the few bytes it takes to send the settings to the proper destination and only save off one copy of the dump.
Somehow I'm sure you can "macro" this under Cubase or your DAW of choice.
So I would say - not on-board the keyboard - but you could accomplish this with a computer and through USB-MIDI.
Current Yamaha Synthesizers: Montage Classic 7, Motif XF6, S90XS, MO6, EX5R
Yamaha, please consider adding the ability for us to save our own effects presets. That would be a huge time-saver.