Configure Channel Strip Components… ⌥X
Change the available components on a channel strip. You can reduce clutter, or add things that make working with the mixer easier. You can store a configuration as ‘user defaults’ and apply those settings when desired.
You can remotely switch between channel strip settings by sending MIDI program change messages. This allows you to select your favorite sounds by pushing a button on your MIDI keyboard. To use this feature, you need to save a channel strip setting as a performance.