[Patrick Finnegan]

I know this is a very old thread but there are new options available so I thought I’d update the answer.

Premiere Pro CC has the ability to do all cuts/subclips in a multicam sequence at once. Just right-click on the sequence and choose “flatten” from the Multicamera options. Next, click on the cut you want to change and press “F” for Match Frame. The Source clip will now open in a source monitor. Apply the effect / filter to the source and it will be applied to all the cuts from that same source file.