I don't know if it would be possible but imagine a tab in options call "Effect Opacity"

We would see all active effect we have at that moment and a "Dimmer Slider" that can control the
Opacity/Transparency from 100% to let say 5%? we would be able to control all visual effect including:
Aura, Speed set, set effect elixir etc!

I know many would love to be able to control all those visual effect!!!