If you're running 3.0 or above, the default actions can be found in the GUI under Objects> Antivirus, Anti-spyware and Vulnerability Protection. To see the information for Antivirus and Anti-spyware, click on New. The default action for Vulnerability Protection can be found by selecting New then Custom from the drop down menu labeled Rule Type. This will bring up the CVE list which contains a column listing the default action.
You can do a couple of things to assist in viewing the default actions of IPS signatures in the custom vulnerability protection profile screen. First, you can increase the number of signatures per page to 300. Second, you can filter the list by clicking on 'Show filter' which will allow you to filter down the group of signatures that you would like to look at, based on name, severity, affected host, CVE, etc.
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