There is no effects tab at this point (as of 7/1/17 at 11PM-ish CST. Who knows if that will change in the next hour).
I am going to create a character step by step here and see if we can find where your problem is exactly happening by limiting our choices, and then if needed we can go into hardware differences, etc. I've made at least 10 toons over the last 48 hours and had no issues, so it bugs me that someone else can't...
Ok so Login, list of characters (if any are present) - bottom of the list, clickingon Create Character.
Choose between Science or Magic (Natural does not appear to be working at the moment) - I drug/spun around to Magic, clicked on it, clicked select, everything looks locked in. Clicked Next.
Rolled wheel around to ranged damage / ranged support. Clicked select, made sure I had the green bubbles around each side, clicked Next
Again, rolled selctors around and chose Archery / Healing. Clicked Select, green bubbles are locked in, clicked Next
Left everything alone in costume
Clicked on BODY un upper right. Moved wheel on right side to HAIR. Clicked on Hair. Chose 'anime ballzee' for the hair.
Used wheel on left to click on Hair and change hair colors.
Changed Character name to 'Nhoj'
Clicked Create
Status: Unconnected (expected behavior on first connection of new character according to recent patch notes.)
Closing and relogging into client
Logged in, chose new character 'Nhoj' from list, connected without issue.
Ok I literally wrote that as I did it, and I am now standing as a new character in the world as I type this out here. This is my 4th toon on just this installation.
If you follow all of that, and it still breaks or just 'doesn't finish' or something, then maybe we could look at hardware diferences? There are 8 others in here right now, and I've seen over 20 people earlier today, and no idea how many have been on at once so far. So it is working for most from what I can see.
Hope this at least helps somebody.
Later!