When selecting Presets on the Fender Mustang I & II, the first Preset is in the Amber bank at the bottom. Turn the Preset selector knob clockwise to scroll through the Presets from the Amber to the Green and finally the Red bank. There are a total of 24 Presets in all on the Mustang I & II amps. There are two main effect types on the Fender Mustang I & II amps. These are MOD (Modulation) and DLY/REV (Delay & Reverb).
These knobs, like the Gain, Volume and tone knobs are programmable. You can also access the Stomp box effects when using the Fender FUSE software. To adjust effects on the Fender Mustang I & II amps, you can turn either of the two FX knobs, and select which effect you want within each FX type. The knob that was turned last will show its value on the LEDs. So, for example, when you turn the MOD knob clockwise to the "next" effect type, the left LED will light and the Save light will illuminate. You have now changed the current effect in the Preset to A2 "Deep Chorus". Likewise, if you then turn the DLY/REV knob clockwise to the "next" effect type, the left LED will light and the Save button will illuminate. You have now changed the current effect in the Preset to A2 "Stereo Tape Delay". You can adjust the effects level by holding down the Exit button while rotating either of the FX knobs. To adjust effects levels, press and hold the Exit button and turn the correlating FX knob up or down.
The Tap button is used to set effect parameters for the Delay time, Modulation rate & Reverb decay. If the current Preset has a Delay effect with a Tap programmable parameter, the Tap button will flash red. If the current Preset has a Modulation or Reverb effect with a Tap programmable parameter, the Tap button will flash green. To set this parameter in effects that have this feature, simply press the Tap button twice at the desired tempo.