Just go to the same window (little arrow beside track) and in the slot where the effect is, use the dropdown to select 'none'.

Highlite Track
Click little arrow and select 'Edit DX FX' (or close)
When the popup appears, click the arrow beside the effect you want to remove,
In the dropdown selection scroll to the top and select 'none'


I do not work here, but the benefits are still awesome
Make your sound your own!