Why clicking this button should bypass the effect?
That’s the way its designed to work–an easy way to toggle between your event (unaltered) and your event with FX applied. Go to Vegas help and search “split screen”. The first title will be split-screen previews which describes the various ways it can be used.
When I click on the screen button, I only see a + mark cursor icon.
That IS the eye-dropper.
Further, How can I apply this match to a series of clips?
Very easy. Once you have applied the color-match effect, or any Fx for that matter, to an event do this. First simply copy the event. Then select the other events. Place cursor inside one of the selected events, right-click, and select “Paste Event Attributes”. In this way, the event Fx will be applied to all those selected.
wwaag