MakeEffectsMovie will ask you for another file. This will be the file that the effect ends with. Chose any movie or image file you want. The parameters on the right will change to those appropriate for the filter you selected. As you adjust the options, the preview image at the lower left changes to reflect your selections.
Some effects have a popup of variations.
There are dozens of kinds of wipes, for example. To see these parameters you must hold down one or more keys when you select the filter from the list. Hold down the Option key when you select the filter. Hold down the Control and Alt keys when you select the effect. Once you have selected an effect and set the parameters as you like, click Save.