Aha, a "saved" preset.
Now we're talking.
You can only get that back from the SONAR menu right?
That's what is broken in X3d as I see it.
My recipe was:
1) use a preset (from the SONAR menu)
2) tweak the preset
3) save the project
4) close the project
5) reopen the project, the tweak is gone (it's back to the original preset values)
If in step 1 is I use a preset from the WAVES "LOAD" menu and complete the rest of the steps, the tweak is saved.