If you are saying: Track 1 always has the effect during recording and playback but Track 2 only has the effect during record then I think:
- Your guitar is still routed to Track 1; in other words, input is going to both Track 1 and Track 2.
- I think you are just hearing the effect from Track 1 while you are playing live.
- Just for the heck of it, mute Track 1, record Track 2, and see what happens.
This is kind of the reverse of what Scott said. You need to turn the echo OFF on Track 1 (if that's the problem).
I always hold shift when I arm and disarm tracks because that turns echo on and off as well. You also need to make sure echo is not always on by default in Preferences.
If this works, then you will not hear any effect on Track 2 whether you are recording or playing back--and that is a different issue.
Even if this doesn't help the OP, it is something good to be aware of. Often I will set up a number of tracks to receive input from a microphone so that the singer can come in and do multiple takes and multiple harmonies without waiting for me to set things up. This is great unless you forget to manage the input echoes: then you have the singer coming in on a dozen tracks which can blow out your headphones.