In Lumion 12 the Effects have been reorganized for a more intuitive order:  

Those with arrows are new classifications for Effects.

Here's the list of Effects for each Effect Category:  

• Featured - (Photo Mode):
  Orthographic View (Not for Panorama), 2-Point Perspective (Not for Panorama), Depth of Field (Not for Panorama), Photo Matching (Not for Panorama), Real Skies, Sun, Shadow, Reflection, Hyperlight (Not for Panorama), Sky Light (Not for Panorama), Color Correction, Layer Visibility. 
• Featured - (Movie Mode):
  Orthographic View (Not for Panorama), Animated Phasing (Movie), Move (Movie), Mass Move (Movie), Sun, Sun Study, Sky and Clouds, Sky Light (Not for Panorama), Hyperlight (Not for Panorama), Shadow, Layer Visibility, Reflection.
• Concept:
  Sketch (Not for Panorama), Outlines, Pastel Sketch
• Architectural:
  Orthographic View (Not for Panorama), Blueprint, Styrofoam, Sun study, Photo-matching (Not for Panorama), 2-point perspective (Not for Panorama),
• Lighting:
  Sun, Shadow, Sky Light (Not for Panorama), Hyperlight (Not for Panorama), Global Illumination, Real Skies, God Rays, Volumetric Sunlight, Volumetric Spotlights, Reflection.
• Sky/Weather:
  Sky and Clouds, Fog, Wind (Not for Panorama), Precipitation, Volume Clouds, Horizon Cloud, Moon, Autumn Colors, Aurora Borealis, Contrails, 
• Camera:
  Depth of Field (Not for Panorama), Tilt Shift (Not for Panorama), Fish Eye (Not for Panorama), Lens Flare (Not for Panorama), Handheld Camera (Not for Panorama), Chromatic Aberrations (Not for Panorama), Exposure.
• Animation:
  Mass Move (Movie), Move (Movie), Advanced Move (Movie), Animate Light Colors, Animated Phasing (Movie), Fade in/out (Movie), Motion Blur (Movie), Titles (Movie), Time Warp
• Artistic:
  Painting (Not for Panorama), Watercolor (Not for Panorama), Manga, Cartoon, Oil Painting, AI Artist Styles (Not for Panorama).
• Enhancements:
  Color Correction, Sharpen, Bleach, Selective Saturation, Vignette (Not for Panorama), Bloom, Analog Color Lab, Noise.
• Tools/Utilities:
  Near Clip Plane, Print/Poster Enhancer (Not for Panorama), Image Overlay (Not for Panorama), Material Highlight, Layer visibility, Variation Control, Water, Side by Side 3D Stereo (Movie), Sound (Movie).

Heres are the Changes from V11 to V12: