Soft effects have a fixed pipeline. Regardless of the order in which you create them, they are always processed in the same order, from Text to Axis:
If you add both a Text and CC soft effect to the timeline, the soft Text is always affected by the soft CC regardless of the order in which they are added to the pipeline. An Axis soft effect is always processed last so it is not affected by other soft effects in the pipeline. This is illustrated in the following example.
First a Text soft effect is added to a segment.
(a) Text soft effect indicator
Image courtesy of Technicolor (formerly Toybox)
Next a CC and Axis soft effect are added. The indicators are added to the timeline in the order in which the soft effects are processed. Because the soft Text is processed first, it is affected by both the soft CC and the soft Axis.
(a) Soft effect indicators listed in processing order
Image courtesy of Technicolor (formerly Toybox)
If you enter a BFX level and extract the soft effects, they are converted to nodes in the following order to maintain the same visual result.
Image courtesy of Technicolor (formerly Toybox)