Why Doesn't Compound Clip With Effect in One Project Still Have Effect When Placed in Another Project?
It looks like you duplicated your project as a snapshot. Taking a snapshot of a project will duplicate the whole project but also a separate copy of the compound clips within a project. This way you can change anything on a compound clip in Project A, and it won't effect project B. 

Here is a quote from the docs:


  When you duplicate a project as a snapshot, Final Cut Pro embeds copies of compound or multicam “parent” clips in the snapshot, so any changes to other instances of those clips do not affect the snapshot.