You can know Fruityloops inside and out, but it's not going to create production quality music.
IT'S NOT THE SOFTWARE.
It's how you use it. You only need a basic understanding of how to control volume, add effects, EQ, etc.
The good production comes from your knowledge of production values. It doesn't come from the software.
You don't have to read to learn production, but it would help if you read Zircon's production guide thread in the guides forum. It taught me a lot about EQ, balancing, etc.
What ALSO taught me about that stuff was talking to people, listening to what was right with their music and comparing it to mine, and changing mine.
The software is your means of output. The music has to come from your head, the composition, arrangement, volumes, balancing, EQ, stereo separation all comes from YOUR HEAD. The software is just a way to get it into mp3 form, and you don't require extensive knowledge of your software to do it. What you DO need is to practice doing it. Experience is your friend,
because I've been there. Your music doesn't sound like what you wanted it to be in your head, and you had no idea how to get it that way. It's not some super complicated array of effects. It's breaking down the music in your head, and creating the bits and pieces until they form what you want. When you practice doing that, you realize it's not really knowledge of your software, it's knowledge of how to send stuff from your brain to your speakers. When you do that, you only need to relearn the basics for every DAW, but your music will still sound great because you carry that knowledge in your brain, it's not in your software.