This is not really an effect but rather a shortcut.
It is the statically :-) the same of Anim2Anim.
Using this tool, you'll be able to convert any picture format recognized by
ImageFX into the default picture format you have selected inside
WebFX Preferences.
Pic2Pic can work on more than just one single picture at
a time, generating a new picture for each picture you will add
to the ListView.
Let's have a look to Pic2Pic interface:
WARNING: no overwrite check is done before saving!
As usual, you can always Drag & Drop an existing directory or device, which will be used as destination dir.