Yep, completely agree with Rob on this one. Great work around – what a fool I was to think it was an original idea of mine :(. In fact, I wrote a little spiel on how I used this technique in a project:
https://www.hamiltonfilms.com.au/no-cut-no-worries/
Of course, in colour grading applications like Davinci Resolve, you can keyframe the correction nodes themselves. But, to be honest, I still find the split and dissolve technique to be much more simple and elegant.
If you have other effects on the clip that can not be split (i.e. stabilization as per the post above) I would suggest baking those effects into the clip (i.e. rendering it out in something like ProRes 4444 etc.) Creative Colour grading like you talk about should be one of your final tasks (if not your final task), so if you really want to retain your raw detail, I would suggest performing a primary correction before baking in effects, then doing your animated creative grade as a final step.
Great thread guys!