You are correct, the button is not at the end of the event like on the video (was going from memory). However, Yes, the clip level effects are "Apply Non-Realtime Event FX" which is what I said above - they will be applied immediately by rendering a new audio clip and added as a take. Bottom line is that an effect CAN be applied to a single event - just not as flexibly as to a track.
As for which track the audio is on - IT DOESN'T MATTER. The track on which an audio even resides will NOT affect how it sounds (unless you have different effects added on the different tracks). Don't worry about using multiple tracks and adding effects as needed to each of those tracks. Vegas IS a multi-track audio editor.
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