I have tried everything on the main panel and also in the presets tab but the preset does not delete when I hit the X. I have also deleted all the effects off the preset but how do you remove it?
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From the tread I took someone’s advice and tried creating a new preset after the one I couldn’t delete and then I could delete it. Strange.
Go to the PRESETS tab and click on the one you want to keep. It will expand and all the other Presets will shrink to one line each. Mouse over any one of those in the list and you will see it will reveal a single red cross (See the example image for Preset 2). Click on it and that Preset will be deleted.