From Convergent Design…
1. Import the media by dragging the FCP 7 xml folder created by CDProResTransfer from the Finder into the Premier Project window. This creates a bin containing the clips, and brings in additional Odyssey metadata for each clip, including the name of the active LUT.
2. To create an assembly, drag the bin to the timeline window.
3. To apply a LUT to individual clips, drag the Lumetri effect onto a clip, and browse to a .cube file.
4. To apply a LUT to the entire timeline, click File/New/Adjustment Layer… and drag the adjustment layer to an empty video track above your clips. Apply the Lumetri affect to the adjustment layer as you would for a clip.
5. Make adjustments to individual clips using colour correction filters, either to normalise the exposure and white balance, or to apply a style. Do this to the clips under the adjustment layer, or if you have applied the LUT to individual clips, apply the correction first, then the LUT.