Audio Inspector (Final Cut Pro) has no Effects section

When I use Final Cut Pro 12.0, the audio inspector has no Effects section.

I'm trying to apply the Channel EQ audio effect.

When I drag the effect to a clip I can see that it has applied, because the FX badge appears in the upper right corner of the Audio Configuration panel (see image).

But I have no way of setting the parameters in the Audio Inspector.

By contrast, video effects show up fine in the Video Inspector.

Any idea what is wrong?

Here's the Audio Inspector when I have applied the audio effect.