The included presets give a great overview of what you can do with FabFilter Volcano 2. You can either use the presets as they are, or tweak them further to create your own unique effects.
The preset button shows the name of the current preset. If you have changed the preset by adjusting one or more parameters, the name is dimmed to indicate that this is not the original preset anymore.
Loading a presets can also be done via MIDI, using Bank Select and Program Change messages. Click Options > View Bank/Program Numbers in the preset menu to enable or disable the display of bank/program numbers (for example: (2/65) My Preset). This means that you can load that preset by first sending a Bank Select message to select bank 2 and then sending a Program Change message to select program 65.
Important: All the presets in your preset folder are numbered automatically, starting with bank 0 and program 0. This way, you are able to access any of the presets via MIDI. However, this also means that when you add new presets to the menu, bank/program numbers of other presets might change. Be aware of this when recording program changes in a session!
All presets created with Volcano 1.x can be loaded in Volcano 2. If Volcano 1.x is also installed on your computer, your Volcano 1 presets will be accessible via the V1 Preset Folder submenu in the preset menu. You can read more about compatibility between Volcano 1.x and Volcano 2 in Upgrading to Volcano 2. Please take some time to read it if you are planning to replace Volcano 1 instances with Volcano 2 instances in your songs.
Next: Saving presets