Edit a Preset

1. Select the desired preset.
2. Press the Edit button on the front panel.
3. Use the Data Entry Control (or hold right cursor button + turn knob) to scroll through the Edit menu screens.
4. Adjust parameters using the Data Entry Control.
5. Important: To save changes, you must go to the 'Save Preset' screen, select a User location (Banks 0 or 1), and press Enter.

Source: Planet Phatt — e-mu-planet-phatt-operation-manual (manual)