Originally Posted by spatzle
I think it was the same in 2.5 as it's now in 6.5: Right-click the parameter you like to automate and select "Edit automation". The parameter gets a green frame and is ready for automation.
This is true, but there were no automation lanes yet (different sequencer too (it changed a couple of times since), they are all in the notelane, underneath the velocity area there is another area for the automation of the knobs 'n buttons. Also you can choose whichever option you want to edit by a dropdownlist on the top left of the notelane.
But dont shoot me if im not exactly right, its from the top of my head and its been a while since i was in 2.5