Greg,
Although the listed side effects for Effexor don't include any issues with the liver, there is a mention of liver function in the postmarketing reports printed in the prescribing information for Effexor XR. Here's an excerpt:
"Postmarketing ReportsAdverse EventsVoluntary reports of other adverse events temporally associated with the use of venlafaxine that have been received since market introduction and that may have no causal relationship with the use of venlafaxine include the following:... abnormalities of unspecified liver function tests..."
Other than that, I've not seen or heard anything about Effexor and liver function.
Hope this helps,
Teri