First, thanks to all the extremely generous VLC coders and supporters!
I believe that providing a button (or the equivalent) to reset all the "Video Effects" settings on demand is more than just highly desirable, I think its absence is a strong disincentive against using VLC at all. There exist many millions (if not billions) of poorly or at least inconsistently color-adjusted videos out there that I find I absolutely must use the "Video Effects" adjustments for at least half of all the videos I've ever watched with VLC. But because of all those maddening color-adjustment variations, after adjusting the Video Effects for one video, those settings very frequently turn out to be extraordinarily terrible for the next! Yet usually it's almost impossible to change the settings to accommodate the next video, since the user simply cannot reset them to the default, neutral setting necessary to form a baseline for the new settings changes.
I've read some posts that claim that exiting and re-starting VLC does reset those settings, but that certainly doesn't work for me anymore starting with Windows version 2. For me, VLC always and extremely irritatingly retains the last custom Video Effects settings from the previous run, no matter what I try! It's true, of course, that disabling the "Image adjust" check box disables the color customizations, but once you enable that check box again for an off-color video, those custom settings are always retained from the previous run, no matter what. And that frustrates me to an extreme degree!
I realize that some users have asked specifically for VLC to do exactly what it does now: To retain all those settings permanently, no matter what. So I realize there's a conflict between those users and those of us who have asked for them to automatically reset to neutral. But clearly a reset button solves all of those conflicts: Press it if you want, don't press it if you don't.
Therefore, I formally request that this feature be included in new versions of VLC. Thank you.