I don't recall - can you turn an effect on/off with automation? If you can, why not insert two copies of Valhalla Room (great plugin by the way) each loaded with a different preset. At the point you need to change - automate one off, and the other on.
Another option. If Valhalla is on a bus (fed with sends) create a duplicate with a different preset. Automate the "sends" from the tracks that use it. This would likely provide a smoother changeover - if smooth is what you are after.