OK, so the same 4 video clips in Canon 60D H.264 on the timeline and I put Magic Bullet Colorista 2 on one, and did a color correct, and then played back in real time! ARE YOU KIDDING ME? WHY DIDN’T I TRY THIS EARLIER! AMAZING!!!!!!
Sure adding an effect on a second clip basically slowed it down too much and I had to render, but I never thought it would work that well. Wow!