It makes it easy to create realistic glow lighting and falloff. You can use the preset on text, logos, footage, and even with 3rd party plug-ins. Typically, I apply the preset to an adjustment layer above the layers I want to glow for the best results.
It’s also recommended to use the preset with a high bit depth (16 or 32) and with a linear workspace, to get even more realistic light falloff. You can make these adjustments in the Project Settings in After Effects.
Whilst you don’t have to do this, if you do the results can look more appealing. When I work in a linear workspace, I prefer the HDTV (Rec. 709) working space with Linearize checked on.
Tips and Tricks
To get even more from the Deep Glow preset, apply an adjustment layer above everything in the composition, and then apply the Noise effect.
Set the Noise level to 1% or 2%, this will help prevent color banding when the video is compressed and uploaded online.
Also, I recommend experimenting with expressions, such as Wiggle, on the various preset controller settings. This can help create a subtle neon-effect on the layers.