Yes. The Effects module is included in the Photo RAW 2017. For more information on the modules and new features of the Photo RAW 2017 please see:
Please note, in the past we have had the individual modules of our bundled package available for purchase separately. The new Photo RAW 2017 is the current program that includes all of the programs we have to offer. Unfortunately we are not longer offering these modules for purchase individually.
Also, in the past we have had a FREE version of the Effects module. We are no longer offering a FREE version of any of the modules included in the Photo RAW 2017. However, if you are an ON1 customer that has not purchased the upgrade to the new Photo RAW 2017, you may have received a free copy of ON1 Effects 10.5 from us. This is the full version of Effects 10.5 (includes all of the filters and presets in the program) and is the exact came version of the Effects module included in the Photo 10.5.