You can Monitor the effect added to your voice by clicking Monitor your Voice.
Example: Launch Voice Cloak Plus and select Microphone record source.
Make sure that Monitor Your Voice is on.
Apply an effect or predefined preset.
Speak in to the microphone and hear your altered voice in your speakers.
Monitoring is provided hear to preview your voice with effects. Even if the Monitoring is Off, you can add effects while chatting or recording in to another application, and enjoy with Voice Cloak Plus.