First, I expect after applying the effect you had it 'analyze' which can take .. a while.
Once you've applied Warp, before applying any other effect, you should at least nest the clip. Right-click, "nest", as this sets a proper processing order in the app.
Realistically I recommend doing a render & replace of the clip on the sequence after applying Warp. Select a good quality intraframe codec like Cineform, ProRes, or DNxHD/R. And that way the effect is "baked in" to that replaced clip, and takes no more work on the part of the app.
Thank you for replying. I follow what you have written and have read up on "nest" concept.
In my case, I first applied the warp (no second effect is used on the same clip, I am still learning), it shows up on the work flow (and I thought I was doing good). Then I separate the clip into two halves. Everything worked fine and only to realize that the effect did not take place after "export".
Sounds like, I will need to do all the effects (including Nest), then at is very end, cut it and place into its sequence, then export? Do I need to install those intraframe codecs (this is new to me)?