Originally Posted by mashny
Messed around with the picture some more. What seems to be happening is that perhaps 50% of the filter effect is seen, but definitely not the full effect. Everything that can be adjusted is set to 100% so I have no idea why the effect is being weakened when I close the filter dialogue box.
You need to double-click on the icon with two sliders at the righthand side of your filter layer. That controls the Fade To setting.
The Smart Filter layer can have it's own blend mode and opacity. So can each of the filter layers underneath. That's what that little icon is there for. It's not just a decoration.