I got this idea:
When you slice up an audiotrack, the slices automatically get numbers. So if you have four slices the slices are numbered 1 to 4.
When you right click an effect on the track, you get the option “assign effect to slice (dropdownmenu with options “all”, “1”, “2”, “3”, “4”)”.
The effect affects the whole file/track as default and when assigned to a specific slice, it only affects that slice.
Does this make sense?