Yes there is! It is called “offline process history” (C6 ops manual p254)
This keeps a track of all the processing applied to the clip (from within Cubase) and allows you to remove any of the steps or go back and change parameters of any of the steps. It’s very powerful, but not many people seem to know about it.
Right click on the clip and select “Audio → Offline Process History” (why they didn’t put this on the “process” menu where folks can see it better is a mystery)