Thanks Todd!
Yes read that previously but the last 2 lines seem somewhat contradictory or at the very least confusing
//QUOTE
‘…colors in a composition sent to Adobe Premiere Pro or Encore using Dynamic Link are in the working color space of the After Effects project.
To manage colors in a dynamically linked composition or for video previews, create a new composition and nest your composition within it; then apply the Color Profile Converter effect to the nested composition, with Input Profile set to Project Working Space. For video previews, then set Output Profile to match the color space of the video preview device.’
//END QUOTE
Back to my original question, does this mean that for a PPRO to AE color managed workflow, you should always use the Color Profile Converter effect on nested comps in AE?
Local is the new global