Open/Close Audio Insert 12 Plug-in Window of focused Track
That sure is a lot of plug-ins on a channel. This set of commands (inserts 1-15) are assigned to the position of the insert. If an insert slot is empty then the command flashes the screen and does nothing.
I can see the utility of having insert slots populated in a standard order like a mixer.
You edit plug-in parameters in the plug-in window, which opens automatically when you insert a plug-in.