As in this mock-up (there is room in all the FX that I have looked at):
... Big pic: http://i.imgur.com/6f7a7rX.png------------------------
Also, as a minor "nice to have", when a preset name is displayed, keep the 3x3 dot grid in front of it, as a visual reminder. As in this mock-up:
... Big pic: http://i.imgur.com/4dNeAps.png
... Big pic: