Hi Tom,
I work for Rovi. Yes, this is a new version of the Codec Suite plug-in. It’s a native Premiere Pro plug-in. The website does a pretty good job of listing out the main benefits (smart rendering, GPU encoding, format support including digital cinema encoding). It’s worth noting that the product comes as a base product with three add-on packs (including a digital cinema pack) just in case you think everything is included in the base product!
Compared to Codec Suite, TotalCode adds:
– CS5.5 and CS6 support
– OpenCL and Intel QuickSync Video support (Codec Suite was CUDA only)
– Expanded MXF support
– VC-3 support
– JPEG2000/Digital Cinema support
The other nice benefit is that the product’s capabilities are also available in the Adobe Media Encoder which means you can export your After Effects projects using TotalCode (handy for DCP for example).
Hope that helps answer any questions you had!
Simon.
Rovi.