When converting effects from 4.11 to 4.12, the particle trimming from the sub UV animation set type set in 4.11 stops working, so the particles look as normal.
If I reset the Sub UV animation in the emitter module it resets all of the sub UV animations. For example if an effect has multiple emitters with sub UV animation modules they all work when one is reset.
Also if the level if the effect is saved and the level and editor re-started, the effect reverts back to a normal sprite.