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.