I presume the sequence of fx in the fx bin mirrors the order that they show in the bin.  In other words, if I have reverb and then eq, then the signal will get reverb first and then eq.  Is my presumption correct?
 
What about Pro Channel fx?  Is the sequence of the fx the same as they appear (top to bottom) in the Pro Channel panel?
 
My other question has to do with the prevailing wisdom of sequencing fx.  Among the commonly-used fx (reverb, delay, eq, compression), which should be first, second and so on.  Any discussion of this principle would be appreciated.
 
Thanks...

1. Yes.

2. I would think so (don't use it)

3. Whatever sounds good.

stickman has your answers for the most part, but yes, the PC flows top to bottom.  You can also insert any VST effects into it.

There have been several threads about squenceing.  From my own use and others the "usual" flow is comp/eq/time-based effects.  There are plenty of reasons to deviate.  A common vocal chain is two comps - a fast fet to grab the sound followed by a slower optical to firm it up (sounds like a bra commercial).  But experiment and you will find a usual sequence that sounds good to you.  Art, not science.

@

Some more advice:

If you don't know what an FX plugin does to the audio signal, then you have no business putting it in your FX bin.*

If you do know what it does to the signal, then you have all the knowledge you need to decide what the right sequence is.

It's that simple. The "right" sequence will depend on what you want to achieve. 

(*) unless you are experimenting to learn about the FX.

You're a wise man, Mr. Stick.

My general rule-of-thumb, though often ignored, is: things that take away from the sound (compressors, gates, filters, equalizers) go first and things that add to or modulate the sound (reverb, chorus, delays, distortion) go after.