There's a buff/effect tab in the object editor and it seems that buffs have as "Is Effect" boolean field.
What exactly will be the difference(ingame) if I set that to true?
an effect is artwork like the bloodlusts fiery fists
a buff is that little icon that apears on a unit when they have a buff/debuff on them (select the unit and on the bottom you will see auras and buffs etc)
i believe buffs can have effects attached to them as well but i havent checked it out
You missunderstood part of the question, he is talking about the other type of "Effects" the one that can be created using the object editor and can be found next to buffs.
Remember that bloodlust gives a buff, not an effect.
Blizzard however gives an effect.
I have no idea what are those for, i've never needed them though, buffs are fine as they are.
Effects seem to have something to do with channeling, as is the case with Carrion Swarm and Volcano (both have effects and are channeling).
But there also seem to be effects that are just art on a unit.
Ghan has said he has fixed this. Monovertex please confirm this fix. This was only a problem with people that had signatures in the upper levels like not the special members but the respected members.