Final Cut Pro offers multiple ways to reset effects and parameters once they have been applied to a clip.
If it is a single change that you have just made, you don’t need to go too much further than the Edit menu - Undo, or type Command-Z. If you’ve advanced several steps beyond the change and want to reset it, Command-Z won’t do.
In the example in the video, a saturation change has been applied to the clip, but these methods work on most effects where the items appear.
If I want to reset one parameter, for example, the saturation in the highlights, I can double-click the highlight puck. Doing so resets it to zero. If I was using a color wheels effect, I would double-click on the handle on the wing.
Another method to reset a single parameter is to type zero in the number field next to that parameter (if a number field exists for the parameter that you are trying to correct).
If I want to reset all parameters at once, I could disable the effect to see the clip without the effect applied to it. To do this, I would simply deselect the checkbox in the video inspector next to the name of the effect. But if I wanted to reset the parameter inside the effect, I could use the hooked arrow next to what I am trying to reset. This resets all of the parameters for that effect. I could also use the drop-down menu in the effect’s title bar (the carrot on the far right of the title bar) and choose Reset Parameter.