What panel is utilized to enhance animations with follow-through effects?

The Graph Editor is the correct choice for enhancing animations with follow-through effects. This panel allows animators to visualize and manipulate the speed and timing of keyframe animations through graphs. By adjusting the velocity and acceleration of keyframes, you can create more natural and fluid transitions that reflect follow-through effects, where elements continue to move after the main action has stopped. For instance, if a character runs and then stops, the Graph Editor can help you create a delayed movement in the character's hair or clothing, giving a more realistic feel to the animation.

In contrast, the Effects and Presets panel is primarily used for applying visual effects, while the Layer Panel is focused on managing and organizing layers within your composition. The Composition Panel serves as the workspace to view and arrange elements visually, but it doesn't provide the detailed manipulation needed for complex animation timing adjustments. Thus, the Graph Editor is the specialized tool that effectively enhances animations with nuances like follow-through effects.