“Wave” Effect
If you use this option you will add a wavelike motion to the object. The speed of the motion can be adjusted using the duration option. By changing the value in X Offset text box you will designate the height of the wave.
General
Duration : This option controls duration of the animation in seconds * 10.
Offset
Offset option controls in what direction and how further will text/letters be thrown. You can designate X and Y offset, and X and Y offset at halftime.
Text
This option is only available if you are working with text.
Frame delay : Sets delay between frames.
Text Color
This option is only available if you are working with text. Select brush type and control separately brush colors. You can also control pen color and pen width.
Two default presets are also available. Check the lower left corner in the Effects window.