I've written about Captivate's Effects feature in the past. If used appropriately, effects can greatly enhance your eLearning lesson.
During one of my recent Captivate 5/5.5 Essentials online classes, a participant asked if it was possible to share a group of effects with other members on her team. She had added several effects to an object that everyone on her team liked. They liked it so much they wanted her "recipe" to save them the trouble of finding all of the effects and setting the timing.
I told her that it was possible to export and then import effects from one project to another, and the process is surprisingly easy.
After applying two or more effects to an object, click theSave command at the bottom of the Effects panel.
The effects will be saved as an XML file. You can save the file to any drive (if you're looking to share with your team, the network drive is likely your best bet).
Once you've saved the effects file, tell your team members that they can easily import the effect by right-clicking a slide object and choosing Apply Effect.
Have them click the Add Effect button and click the Browse button.
The final step will be to find and open the saved effects file. Once opened, the saved effects will be applied to the selected object (in the same order you specified on the Effects panel when you saved the effects file).
Note: While I love the Effects feature, gratuitous use of effects can actually detract from your lesson... so please, developers... let's take it easy out there.