I expect that most of the time this wouldn't matter, but for one video I had to revisit, I found that when I split an event containing PIP and BCC Glow Alpha Edges, VP reversed the order which resulted in 1/4 of my video being cut off in the preview window. Based on this and other PIP behavior, I think that fx needs work.
Had me really scratching my head until I saw that VP had changed the order from BCC GAE+PIP to PIP+BCC GAE
The same thing happens when pasting event fx.
VP prioritizes Vegas fx over third party?