Honestly did not really understand how it differs from the light that is in 3D Object) Essentially the same settings and the principle of operation is the same
Do you mean the 3DObject lights controlled by ACEs in 3DObject (it is not an effect) or something else? A screen shot of what settings you are talking about would help.
If you are looking at light layer, effect it does not handle world position lights, only relative to view and no normal or phong support.
