ClipDramatizer 2.0 VIP Library access comes in Monthly and Yearly Plans. When you cancel your subscription, you will still have access to your VIP Effect Library for the paid period i.e. the remaining month or the year you paid for. Once the paid period is over your access will be automatically revoked. You will lose access to the additional 400 Music Files, 900 Video Overlays and 900 Background Videos.
Also, your ClipDramatizer 2.0 Effects inside the software will be downgraded. If you had Standard your total number of effects will be downgraded to 50. If you had Standard + PRO, your total number of effects will be downgraded to 150.