Hi Criss Poisson,
found your approach the best, cause I can continue to move around the individual clips and don’t have the sequence as one block as it becomes when it is nested.
BUT for those who got a bit CONFUSED by your description as I got:
After you have applied the effect to one clip YOU HAVE TO COPY THE WHOLE CLIP not just the effect in the Viewer (as I did before). Then select the whole sequence and paste attributes. (I did it by the contextual menu – control click)