Are we using Vegas or Ulead here moneus?

You could move all your clips onto a single track and then apply the fx to the whole track rather than the individual clips.

Then when you edit the fx, they'll change for every clip on that track.

This way you can add, remove or replace fx in one go.

In Vegas, i believe the track level fx are accessed from the fx icon next to the track title. I can't remember how to do this in Movie Studio, it's been a long time since I used it.

Rgds