If this caught you by surprise, the v2.0 update is a full rewrite of Pixel FX Designer from scratch, and brings lots of new features and improvements. The major points being:
Have in mind that this is a beta version, and that there will be bugs and things missing or to be improved.

Design pixelart effects and render them to .png sprite sheets or .gifs
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Thanks for the update. Will there be some video tutorials? Because the documentation under HELP isn't doing anything?
Another question, I see there are 2 other downloads for me to download "DavitMasia Emitters (33)" & "Particles Pack (1000)").
Where do these fit in the software? Are they like libraries? Can they be used in the latest version? Thanks in advance!