Hi,
What version of iMovie and operating system are you using? Update to current iMovie 10.1.12 and Mojave, and see if that makes a difference.
The display in your screen shot is different than mine in current iMovie 10.1.12, and yours is not current iMovie. Here's a screen shot of my display in Project view:

Note that the video effects panel is called Clip Filters, not Video Effects. Further, the Filter selections display the clip that is selected in the timeline, whereas your "Video Effects" icons are blank.
Here's a screen shot of my screen in Media view:

Note that the tabs at the top of the screen say Media and Projects, whereas yours say Library and Theater. Theater is no longer supported in current iMovie.
So, I think that the problem here may be that you are using some earlier version of iMovie. If it is iMovie 9, that version is not compatible fully with operating systems from El Capitan forward. It does not even open in Mojave.
As I mentioned at the outset, try updating your iMovie and operating system versions to current as you can get. Then see if your Video Filters work properly.
-- Rich