HI,
The Multibridge Pro has up conversion on capture. This is software and will work only if the unit is in capture / playback mode, i.e. connected to your Mac via PCIe.
It will also work with Color. All applications such as Color, Final Cut Pro, Motion etc use standard Quicktime devices for output. Multibridge Pro is one of these devices so it will work.
regards
Kristian Lam
Blackmagic Design