ok something i typed up a while ago, has a bit on adding and using the effects. i took a bit out so it would fit in one post. read the whole thing if you want, or just skip to that section:
Adding and Editing Audio Clips in Fruity Loops

Ok first you want to download Fruity Loops, the demo is fine for what we are doing. Don’t have the demo? You can download it here:
Ok, so now you have FL and you want to add in your audio so you can add effects. Word of caution here, you CANNOT save in the demo version so it is best to do everything you want to at one time then export your song when you are done. More on exporting later.

STEP 2: Getting ready to edit your clip
Ok, so now your clip is in FL and you are ready to go. Well, actually not quite yet. You need to do a few more things to get ready to edit the clip, but they aren’t complicated so don’t worry. Start by clicking on your audio channel that should now have the name of your clip. A box should appear on your screen with a bunch of knobs, buttons and words. It looks complicated but you don’t have too fool with much of it. I don’t know what everything does, and it doesn’t really seem to matter.
1. You need to click the orange box to the left of the words “Keep on disk” because we don’t want to keep it on disk (well I don’t anyway). The box should then turn grey to show you deselected it.
2. Next you need to click the grey box next to the words “Remove DC offset.” It should turn orange to show it is selected. I don’t know what this does, but its what I was taught to do so I just do it.
3. In the upper right hand corner there is a box over the letters “FX” with two lines in it like this: --. Put your cursor over the box and click and hold down. Then drag your mouse upwards and you will see numbers start to count up. Move your mouse down and the numbers go down. You select the channel that you want to use for the effects on this clip. The drum samples that were shown when you started up the program are linked to channel 1, so I start with 2 for my audio and then use a new channel for separate clips (unless two should be on the same channel, but that’s personal taste/up to you).
Ok, here is a picture of where to find everything, labeled for your convenience.

Ok, you might want to do this next thing earlier, but I forgot about it so we can just do it now. You need to set the tempo of your song. This is good for when you add in drums or synth using FL so that they are at the same speed as your song. Go to the middle of the screen, around an inch from the top. There should be a box labeled tempo, and it is set at 140. You use the same technique as you did to change the channel for FX, drag up to increase the tempo, drag down to decrease the tempo. Set it to whatever your metronome was set to when you recorded the clip. If you didn’t use a metronome, you should be using one for your recordings so you stay in time. But if you didn’t, this step isn’t really going to matter to you, you just can’t add anything in besides your audio clip(s). Picture time again.

So now you want to add your clip to the song right? Ok, look to the right and you should see something that is labeled “Playlist” and has lots of boxes all over it. Now click on your channel again then go to the bottom of the Playlist. The bottom section of the Playlist should have tall rectangles, so click in the top right rectangle. An image of your clip should appear. Should look something like this (but with your audio not mine).

STEP 3: Adding effects
Ok, now click on the FX icon in the upper right hand corner of your screen, it is all the way upper right. It should bring up what looks like (and is) a mixer. Now you want to take that mixer and click on the channel you want to use, should be FX 2 if you did what I said. If you selected a different channel before, select the one you chose before in the mixer. In the bottom half of the mixer there should be a long grey rectangle with the number 1 in it. This is the slot for your first effect. Click on the black box with the upside down triangle that is to the left of the rectangle. A drop down menu appears, so go down to the first option: Select. Another menu will come out to the right, which is a list of all the effects you have at your disposal.
I like reverb, the parametric EQ, and maybe some chorus. For distortion I am a fan of the Blood Overdrive, but for the purpose of this demonstration I am going to use Fast Dist. Experiment with the effects to see what adds the best color to your clip. Here is a picture of me selecting Fast Dist.

STEP 4: Changing effect presets and using the mixer
So now that you have selected Fast Dist as your first effect, a small box should appear showing the effect. Now, you have two options for changing presets, both are exactly the same other than where you get the menu from. I like option 2 personally. Here is a picture of the two places.

Ok, so you click on one of those two boxes, I will be using number 2 for my tutorial. The same drop down menu where you picked your effect comes down again, but this time you go to presets instead of select. Then you select the preset you want. In the picture I am selecting overdrive.

Now you will want to listen to your song to decide which preset sounds the best. Go to the top of the screen, a little to the left of the tempo box. There should be one labeled “pat” right over one labeled “song.” The “pat” (pattern) is default, so you want to select the box to the left of “song.” Then use the play controls just to the right to play your song/audio clip. You can change presets while it is playing to hear how they each sound. Another option is to change each individual knob on the effect to get the sound you like, but presets are easier for now. Hitting the spacebar also functions as a start/stop button if you are using a keyboard and don’t want to have to find the on-screen playback controls. A picture of the song and patter boxes and the play controls is below.

Ok, so now you have your effect(s) in. Each effect is exactly like the first just using a different slot; eight slots means eight effects per channel. You can use the mixer for other things too, so ill explain panning and adjusting the volume of each channel. To pan your track to one side or the other, look for the knob just under where FX 2 is written vertically (labeled in the picture). Clicking on the knob and dragging up pans right, dragging down pans left. The position of the knob, as well as the little bar that pops up, show you which way and how much you are panning the channel. The slider right under that knob is for the channel volume. Click the knob and drag up to increase volume, drag down to decrease the volume. The channel all the way left is labeled “Master” and this controls everything. So panning that left pans the whole song left, and decreasing the volume on that channel decreases the volume of the whole thing. Ok, it is time for another picture.

That’s all for now, any questions can be posted in here or you can PM me. Hope this helped someone out and thanks for taking the time to read it