color correction

I for one was very glad to see color correction moved to effects. If for nothing else, the fact that it can now be placed in any order, and one can easily add several color corrections (even interspersed with other effects, if necessary). And the ability to apply a broadcast safe filter *after* color correction, which before required using an "adjustment layer", is a big improvement in workflow.

I see color correction foremost as an editorial and artistic activity, more than a technical one. As such, it makes sense to do it in your project, not the browser.

I may want use the same source clip in different instances with different color *effects* (sorry, couldn't resist).

I may want to take footage shot during the day and work on it to simulate a night or dusk shot, for example.

You might want to do it in the browser, if you think of it as a way to, er... correct poor exposure or whatnot, i.e. correct errors in the capture of the footage (as I said, that is not the way I think of it the most). In that case, then I think that the right course of action would be to open the clip in its own timeline and apply correction there. Still, that should not preclude the possibility that, as you add that same clip to a project, you may want to add further color corrections.

What NLE have you used that doesn't apply a correction as an effect?

If you have saved a custom user effects preset (using Color Correction effect), simply select all the clips at once, and double-click the preset, it will apply to all selected clips. Way easier than before. Or copy the first one, select the rest of the clips, and Paste Attributes. Pretty easy and quick.

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Cmd-6 opens the color board. Click the button. Effect applied. You don't even have to select the clip. It's applied to the targeted clip in the timeline. It's really no more difficult to apply than before and has significant feature enhancements including stacking order with other effects.