Live Presets and the Live Library
By default, Live stores its presets in the current Library you are using.
Presets for a Devices in the Library
When you store a preset for a Max device in the Library, it appears beneath the device hierarchically. In the example shown below, NicePreset is a preset that has been saved for the Max device MyEffect.
Presets for a Devices Outside the Library
When you store a preset for a Max device that is not located in the Library, the preset will have a special preset-plus-device icon and also show the device name in square brackets before the preset name. In the example below, we stored a preset called GiantPreset for an effect originally outside the Library called MyGiantEffect.
Saving a Max Device in the Library
If you want to save a device into the Live library, it's better to use the Save As... command within Max instead of moving the device file using your operating system. Using Save As... permits Live to keep track of your device and manage its presets.
Updating Presets to Use New Max Devices
Please note that the following procedure could render your presets inoperative. If you choose a Max device that is not compatible with the preset's stored data, the preset is unlikely to do anything. Or if it does something, it's unlikely to do what you want.