An FX badge is an icon in the Timeline that lets you easily identify if an effect has been applied to a clip.
Premiere Pro offers FX badges in different colors. Just by looking at the badge color, you can determine if you have applied an effect, modified an intrinsic effect, and so on.
|FX badge color||Denotes|
|Gray||No effect applied (default badge color)|
|Purple||Non-intrinsic effect applied (like, color correction, blur)|
|Yellow||Intrinsic effect modified (like, position, scale, opacity)|
|Green||Intrinsic effect modified and additional effect applied|
|Red underline||Master Clip effect applied|