Hi,
That depend.
There are parameters that belong to Analog Lab (AL). They have to be saved as AL presets.
But a great strength in Arturias preset system is you actually can use presets saved in Analog Lab in the individual applications and vice versa.
ALs Effects and ALs Master volume in example is AL parameters. So use the Effects and Master Volume that belong to the individual application, if you wan't to save those parameters in the original individual applications format.
If you edit parameters belonging to Analog Lab and you use "Save Preset As", then you will see the text "Save As Analog Lab Preset". This will save the preset as a Analog lab preset.
If you only edit parameters not belonging to Analog Lab, then when you use "Save Preset As", then you will see the text "Save As". This will save the preset as a Farfisa preset - in this case. You can open it in Farfisa V right away.
When you are in a Multi Preset, then you in the 3 dots menu above the instrument image can save Part 1 and Part 2 as the individual application presets. But not with parameters belonging to a Analog Lab preset.
The important thing is that If you wan't to save parameters that belong to the Analog Lab application, then the preset need to be saved as a Analog Lab preset. In all other cases the preset can be saved as a preset belongung to the original application, and thus is availble and can be used in the individual application too right away.