2.0

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Submaster Editing
The Submaster effect is in the Image category of the Effect Palette.
When you render this effect, NewsCutter creates a single media file
from several clips or effects in a sequence.
Rendering a Submaster effect saves the new Submaster clip to the
drive as a single media file. However, each element that makes up the
composite is left untouched so you can still manipulate any element.
The Submaster effect is useful when you want to play back
bandwidth-limited sequences, such as sequences composed of several
seconds of single-frame clips. It is much faster to use the Submaster
effect than to use methods such as applying a graphic,
Picture-in-Picture, Mask, or Resize effect. Normally, Submaster effects
render at about the same rate as motion effects.
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You can nest up to four tracks inside a Submaster effect.
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An edit decision list (EDL) for a sequence that contains a Submaster effect
represents the contents of the Submaster as a single cut. To work around this,
you can create a new sequence with the contents of the Submaster and
generate a separate EDL for that sequence.
Applying the Submaster Effect to a Multilayered Sequence
You can use the Submaster effect to speed the rendering process by
applying it to a track above layered or nested effects and then
rendering only the Submaster. NewsCutter renders the composite
result of all tracks into the top track.
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The Submaster effect maintains links to the original media files, so you should
not delete the original media files. If you want to combine tracks to create a
sequence that is independent from the original media files, perform a video
mixdown.