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Each software release comes with all the factory presets of the various emulated FX complete. So if you have got the latest FX its because you havent got the latest software release for your iLive – latest software version is v1.32.
The latest fx included in v1.32 are Hypabass and Symphonic Chorus.
In v1.4 there will be another FX emulation released.

If you want to get your user preset variations of the factory presets, save our preset. This is now stored on the surface, a symbol of a persons head is next the preset in the library. Factory presets have the red ‘&’ symbol next to them. These are not editable.
To stored this onto your usb key, goto utility/configuration/library manager. There is a menu allowing you to transfer to and from the usb key from and to the fx library in the surface.