In this work we explore audio effects based on the manipulation of estimated AM/FM decomposition of input signals, followed by resynthesis. The framework is based on an incoherent monocomponent based decomposition. Contrary to reports that discourage the usage of this simple scenario, our results have shown that the artefacts introduced in the audio produced are acceptable and not even noticeable in some cases. Useful and musically interesting effects were obtained in this study, illustrated with audio samples that accompany the text. We also make available Octave code for future experiments and new Csound opcodes for real-time implementations.