I often do have to "Hide all effects" because at some point, when using a lot of them, Photoshop becomes pretty much unresponsive. But at the same time it would be great to have the effect ON again for certain layers that I'm actually working on. But right now, I can only turn all of them back on again, which results in performance issues again.
It would be great if there were two additional commands in the layer popup - "Show Effect" and "Hide Effect". Both of them just applying to singular layers. That would help a lot.