At the top left is a list of visual packs.
When you click on one pack, the list below will be updated with all the available visuals for that pack. The presets list on the right will be updated with all presets found for visuals of that pack.
When you click on a visual, it will be highlighted. The presets list (on the right) will contain all presets found for the chosen visual.
Now you can create a preset for the chosen visual by pressing the "NEW" button in the top right.
Click the "EDIT" button in the preset list.
Click the "DELETE" button in the preset list.
The "VIEW" button controls whether the player will stop playing the normal play queue and play the preset play queue which only holds one item - the current preset. When the player is in this mode, you have to go back to the player tab to re-activate the player queue.
If you are in the middle of a live presentation, having "VIEW" enabled is a bad idea as it will disrupt the output.
So by disabling "VIEW" you can edit a preset while the play queue is running.