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Can I exchange presets between the old FL201 Instant Flanger plugin and the new Instant Flanger Mk II plugin?

Yes and no. Instant Flanger Mk II will allow you to load presets from the FL201 Instant Flanger plugin, and vice versa. The common parameters will load up and display the same values on both plugins, except that the Oscillator knob position will return to the default value for each plugin instead. Additionally there are new features that have no translation to or from the old FL201 Instant Flanger plugin.