There still isn't a way of applying FrameFlex to a clip in a sequence without "..applying a FrameFlex source adapter to the clip in the bin." (AVID V8.5 HELP FILE) !!
Then I thought, wouldn't it just make more sense to combine Frameflex + resize + 3D pip to make a move tool, that gets the best resolution out of your source material. If I've got 4K footage in a 1080 sequence, I want to use re-size quite often: that's the advantage of working with high res footage with a lower res delivery spec. But I can't because I have to use Frameflex.. and to use Frameflex I have to match frame, go to source, muck around with settings, go back to my sequence and then open the Frameflex tool (which has it's own set of issues..), keyframe in there..!
It's way too time consuming for something so simple in principle. I'm sure all the elements are there in the software - can they really not be combined?
ps - can you also add some basic 3D functionality while you are there ala 3D PIP, thanks! x