Hi!
Working with ArcGIS Pro 2.7 I've noticed something when I was using Annotation Layers and Point Layers with Labels.
I have a map in Pro like this

The ocean letters are from an Annotation Layer (Text Map Notes) and it has a Point FC with standard labeling.
I wanted to use Layer Blend effects applying a Hard Light Blend to the Annotation Layer and this happened.

The Point Feature Layer dissapeared. It gets weirder because the point FC is above the Annotation Layer in the Table of contents.

If I switch the layers order it shows the point but not the labeling.

Is there a limitation using blend effects in Annotation Layers or is a bug?
Greetings