RogerS wrote on 10/4/2022, 8:47 PM

There is no difference. The difference is what the Fx applies to, from global (entire project) to local (single event).

Musicvid wrote on 10/4/2022, 10:27 PM

There are considerations concerning the order (hierarchy) of events in the chain. Some effects must only be applied at the Media or Pre-Pan/Crop level; others "can" create Luminance splatter resulting in illegal levels or loss of Bit Depth if applied at the downstream end of the linear Fx chain. This begs the question, which effects will you be using in your current project?