At the top of every Preset you'll find the Preset Configuration Panel.
On the left side of the panel you'll see the preset number and preset name. To rename the preset; click the Preset name. You can now write a new name. Press Enter when done or click with the mouse cursor outside the box.
Renaming Presets to a descriptive name can help organise your workflow; "Recording", "Automating strings" etc.
To see the plugin your preset is hosting press this icon.
For plugins to automatically open when you navigate to a preset press this icon.
Select this icon if you want Wave to activate automatically when you navigate to that particular preset. This feature is default in all new presets.
Within each preset you can decide if Wave uses Relative (Rel) or Absolute (Abs) movements. The default state for Wave is Relative.
Relative mode behaves in a way that when you deactivate a preset, no matter how you move your hand in between, when you reactivate it the ring will start tracking from the last position before deactivating.
The Absolute mode does the opposite. It keeps tracking your movements even if you've deactivated the preset, and "jumps" to the current value when you reactivate it.
Absolute is stuck in space, Relative moves with you.
You can select a MIDI Channel for each preset. Press the MIDI icon in the top right corner of Softwave. Change the number for the channel by pressing the number and selecting from the list. The default is Channel 1.
You can set a Program Change for each preset. This way, every time you navigate to that particular preset, it will send out the program change. Select the MIDI icon in the top right corner of Softwave to set the Program Change, Bank MSB and Bank LSB.