Hi Michael,
I understand your frustration. I too see a lot of things in other NLEs that AVID cannot “exactly” replicate. It does do a lot of things well though that in the end save you time. For this process of organization however there are just a couple extra steps you will need to perform in order to achieve the results in your workflow.
A few huge, integral navigational functions in MC involve using a combination of match frame, find bin, and the set bind display function.
First for both of your sequences, make sure they are in two separate bins. Then locate the “hamburger” symbol (as people like to call it) in the bottom left of the bin interface. Find “set bin display” in the drop down and then check the box “show reference clips”. This will show you the contents of your sequence.
With reference clips shown, you can easily match back to clips existing in you timeline using match frame then find bin. This combination will pin point exactly what clip you are either hovering over or have selected via in and out points.
From here just color your clips however you like. Then look to your timeline “hamburger” symbol and select clip color in the drop down. Check the box marked “source” and voila your clips will appear colored as you have customized them in the reference clips.
A couple more steps here than Premiere, but once you get used to it goes rather quickly. And hey you might find a way to tweak your workflow along the way to make it a bit more AVID friendly. I struggled with these challenges during my transition to MC but have grown to love many of the other features. By and large it’s an interface that promotes swiftness in the edit bay.