For years now, I have been using Vegas to edit mutlicamera videos of things like school plays, orchestra concerts, interviews, etc. I primarily have two cameras; a Canon camcorder and a Canon DSLR. Every now and then, I'll add footage from other cameras (cell phones, other cameras, or whatever else may be available).

I have had very good results in putting videos together, but I do it the long way...each camera goes on it's own track and then I split footage on upper tracks and remove the clips or reduce the opacity so that footage from lower tracks shows through. This works, but is very time consuming. However, I have done it this way because of the differences in camera footage and the need to apply different color corrections, levels, and effects to each track to make them match visually.

I typically apply levels corrections before doing any editing since that doesn't change shot to shot, but color curves and color corrections always get applied after all the cuts are done since it can change shot to shot on the camera that moves around to catch different areas of the stage (using a play as an example - school lighting is always horrible).

I have messed with multicamera stuff but always come back to doing it the long way. Now, after reading some more about multicamera, I'd really like to try going to that method to save time but.....

Is there a way to apply different color corrections and effects to the individual camera tracks in a multicamera setup once they're combined into a single multicamera track?

Is there any way to apply individual effects to single shots within a multi camera track? i.e. a 5 second shot from camera 2 needs to have slightly different color balance than all the other shots from camera 2.