The song is rebuilt from the chips' register log: notes, instruments, volumes, slides and vibrato as tracker rows. The VGM's own drum samples are played by the kit's drums most like them. Check it by ear, then edit away; Undo brings back the song you had.
Effects follow Deflemask's Genesis set (00 arpeggio, 01/02 portamento, 03 tone portamento, 04 vibrato, 08 pan, 0A volume slide, 0B jump, 0D break, 0F speed, 10 LFO, 11 feedback, 12-15 operator level, 16 multiple, 17 DAC, 18 FM3 extended, 19-1D attack, 20 noise, E1/E2 note slide, E5 fine tune, EC cut, ED delay). The status line names the one under the cursor.