Hi guys, this is a dumb question but how do you apply an effect or color correction to a file in AE 5.5 to be precise then save that effect and have that footage to edit in Premier Pro 7.0 with that effect already on it. I'm sorry but AE 5.5 is just frustrating the hell out of me, maybe it's because my comp is so slow.

You would render the part of the footage with the effect on it as a file (say uncompressed .avi or dv), then import that footage into premiere. You can't go straight from AE to Premiere.

With the new Premiere Pro 1.5 you should be able to use the same AE plugin within Premiere.

wow so your saying I can use the Frischluft LensCare in Premier Pro 1.5 as an effect :D that's trully awesome.