Version: 2.1.2
OS: OS X Yosemite / 10.10.5
I’m trying to find the “Vocal Removal/Isolation” effect, which I remember used to be there, but now does not seem to be.
http://i.imgur.com/CVqDuPU.png
I have no idea what could have caused this, as I have next to no experience in Audacity.
Thank you so much if you can find a solution! 
Vocal Removal got a bad name…for failing to remove vocals. The new tool is Vocal Reduction and Isolation. It should be down at the bottom of the Effects Panel. You may need to go through Add/Remove Plugins to get there, but I think it’s an built-in tool.
Koz
“Vocal Reduction and Isolation” should be listed near the bottom of the “Effects” menu.
If the effect is missing, check to see if other effects are missing - in particular, look for “High Pass Filter”, “Low Pass Filter” and “Adjustable Fade” (these should all be in the bottom section of the Effect menu by default).
i’m having the same problem!
i’m running Mac OS Sierra 10.12.2, and i have audacity 2.1.2.
i can’t find the “vocal reduction/isolation” effect anywhere; it doesn’t show up near the bottom of my effects menu and it isn’t in the hidden effects when i go into “add/remove effects.”
“adjustable fade” also doesn’t appear, and neither do the “high pass filter” and “low pass filter” effects.
It’s a problem introduced by Apple’s recent changes to gatekeeper.
To fix it, open a Terminal (Applications > Utilities : Terminal.app) then type or paste:
sudo xattr -r -d com.apple.quarantine /Applications/Audacity/
Then press ENTER on your keyboard.
Type your admin password (you won’t see it on the screen)
then press ENTER again.