A Template is a stand-alone project that you use to get started with a VST or AU plug-in design. They don't have anything to do with RackAFX and are found in the Utilities menu. You can make as many templates as you want; they are in a folder you select in View->Preferences.
Exporting is more powerful because it takes your existing RackAFX plug-in and embeds it into a VST or AU project. This uses the same wrapper technique I talk about in the Appendix of my book. You can export any time you want; the projects are all grouped together in folders inside your AUFiles folder, in your Project directory. No attempt is made to synchronize the code so if you make changes to your RackAFX plug-in, you either need to do a new Export or manually copy whatever .h and .cpp files your RackAFX project uses into the VST or AU folder.
Both exports and templates should compile right away.
VST: these come with both 32 and 64 bit platform configurations with 32 bit as the default. You change this with a drop-down box on the VS toolbar. You must have the 64-bit component installed in VS to use the 64 bit version.
AU: if your project doesn't compile, check the Build settings for the SDK and/or target OS; make sure it is correct for your machine. There are separate 10.6 Snow Leopard and 10.7 Lion/Mountain Lion folders; AU changed slightly between OS revs.
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