Color corrections made in Event Browser (Clip>Open Clip) are not reflecting/updating in timeline instances of said clip

When I open a clip in the Event Browser by choosing Clip>Open Clip, make my color edits to that clip container, and then go back to the main project timeline, there's an issue. The instances of that same clip which I just applied edits to do not reflect the changes I just made in Clip>Open Clip. I tried rendering the clip in the timeline, but to no avail. Closed Final Cut and reopened, no luck.

Shouldn't changes made to the Clip in the Event Browser immediately update all instances across all timelines in a given event? If not, how do I make that happen?