How does pre-sets work?

I have already build app specific shortcuts. These show up when I switch/open apps. If I install a preset (like GoldenChaos) will I lose my own shortcuts? If I do not like the preset, how do I get rid of it? I have-not installed it yet for the fear of messing things up!

GoldenChaos will just show up as an additional preset that you can activate / deactivate. Your setup will still be there, however it may conflict with GoldenChaos - in which case you can decide to disable yours or GoldenChaos at any time. You can also switch between them using predefined actions.