Yes,
Go in and apply the effects
Then you have go to the tab at the top right , hit that and select "write program", Then it will have those effects on it and carry over to that program in the Sequence mode. But first go to the global mode and make sure the memory protect is on or off. If its on , then that will save the effect for that program and save them under that name only. If its off then the effects will be on that program for good even after you power down until you rewrite it.
I prefer to apply effects on the sequencing and mixing level myself.
Is your way better for some reason?