Been using FastStone Image Viewer to view RAW / DNG files captured with Pentax Q7 ... with Quick/Smart Effects intact.
FastStone Image Viewer - Powerful and Intuitive Photo Viewer, Editor and Batch Converter
I proceed to import all DNGs to Lightroom ... and as mentioned, Smart Effects are stripped away as soon as you select the picture within the Library.
I then use FastStone Image Viewer ... and navigate to where the DNG is saved within Lightroom's Photo Catalog. Smart Effects are retained when viewed within this program and a JPG/TIF can be saved out with effects burned in.
BTW ... they have a portable version so I keep one handy on a thumbdrive and even on the portable drive where my Lightroom Photo catalog is stored ... for easy access.