Oh I don't doubt it. I'm surprised projectile objects don't have some basic properties like duration, speed, effect, color, size, trail, etc so they could be adjusted on the fly. I'm guessing the new code options makes it a lot easier to work with?
Our effects are not dynamic in game. There are things that I could quickly alter, but dramatically new looks are not quick. I also don't have "low" setting particles and then "high" setting particles, they are all the same asset. If I can find out exactly what I have to work with there, or get code support for defining what can and can't be played based on settings, then there would be more flexibility.