I had zedge previously, i deleted it though because it kept freezing. I'd download it again to give it a shot, but that just makes me confront another problem namely "there is insufficient space on device", even though my SD card is almost empty.
I just did. Cleared the catch, restarted my phone, set up a custom tone, restarted my phone again...it went back to default, just like the settings within the app, all gone again.