Hi there,

In Channel Tools ... I'm not able to save a preset into the preset menu.
The best I can do is overwrite the one called "Preset".

Is there some hidden trick I'm missing to being able to save my own named presets into the menu?

Thank you!

Works for me by clicking in the preset name field, name the preset, click the save button.
 

Edit:
Sorry ...
I'm not finding a way to name a preset (the drop down to the left of the floppy icon) and then save it, putting it in the drop down preset menu
however
I'm able to use the save option under the VST2 drop down menu which then wants to save it to an external place,
but I've had notoriously bad luck with that method with other plugins.

Can you please explain further?
Thanks

Steve has it right...just double-click in the preset field, type in a name, and save. What part of that are you not able to do?

Yeah, double-click in the preset name opens the edit field

Thanks scook and C.A. 
It was the Double Click that I wasn't understanding to open the edit field.
I was just single clicking it.
Thanks also for the hint on deleting.

Problem Solved!