If you have nested effects on a clip you can go into effect mode and double click them to open the nest.  Very useful.  You can then add effect inside the nest and see the total effect of all effects (easier and faster than stepping in and stepping out).

However, you can't go into color correction mode, open the nest, and correct the source.  The only way to do that is to step into the effect, which means you can't color sample lower layers, or see how the CC is affected by other effects in the stack without stepping out, viewing it, stepping in - making an adjustment, stepping out - etc...

I'd like to be able to open a nest until I get to the source layer (no effects) and color correct, seeing the composite of all other effects as I adjust, as well as be able to sample higher and lower tracks for color matching.  

Thanks.

Michael