Please correct me if I'm wrong:

When you record in film mode on the BMPCC, you record a flat profile. When you import your footage into whatever NLE you use, you apply a LUT that shows you what the colors SHOULD look like for your particular camera. However, you use the other color correcting tools, like Colorista, to apply the actual changes and then add whatever additional changes you want using those same tools.

In Resolve Lite, I can't find the LUT used for BMPCC...or am I not understanding the idea behind LUT's?

Also, do LUT's apply when shooting RAW? In photography, you would not apply a LUT but rather editing the raw RAW file as is using whatever color editing software you used, like Lightroom.

The way to think about it is a LUT is a short-cut to get RAW or LOG footage looking within our normal expected range for luminance and color. It is a temporary color correction to use during your edit.

You should color correct the base footage when the time for color comes.

The last I read was the Resolve needed an update to correctly work with the BMPCC. I admit that I've not kept up to date on that since I don't have one.

Resolve 10 supports BMPCC cDNG. Resolve 9 does not from what I understand.

First go to the "camera" (raw) tab and select "clip" and than "BMC"

Than slap the "BMC" LUT on your last node.

Leave that node alone

For more color correction make a new node and place it before the LUT node.