thanx Hameed,
When you say export, do you mean render a new file,
or,
can you used a saved project as a track and nest it on the timeline?

Ah I see what you are trying to do, now before you compress to a single track so you can drop your dissolve, let say that if you want to color correct all the clips on camera 1 on track 1V, just click on track 1V to highlight it then Crtl A, this will highlights all the clip on 1V then you can drag a "save" color correction preset to it and it will apply the fix to all the clips, what I meant is that you need to drag your color correction to the one of the clip and then adjust it to liking and then save that preset, and then deleted that color correction from that clip, otherwise you will have 2 fx on that clip when you Ctrl A and drag the color correction to the track, when you drag a color correction to the track and then adjust your settings, it will only change settings to the current clip, that is why you need to make a preset color correction first. You can also shrink your timeline so you can see all of it and then put your mouse pass the end of track 1V and drag all the way to the begin and this will highlight all of the clips on 1V so you can drag your fx on it, (marquee) there are many ways to do a certain task, if you are doing the sequence and rename your original file that will work too,but required you to render a new clip and that take much longer, if you doing the sequence and but not rendering a new clip that will not work because the sequence pointer will point to the original clip and when you rename your original file it it will not find it, if you want to learn Edius, you want to learn all the different ways to do 1 task and use what is most appropriate, there will be time when you only want to apply fx to a certain section and not the whole clip and drawing marquee is the way to do it and only take a couple of seconds, not holding Ctrl and click every single clip.

Render a new file.