I am happy to announce that I came around finishing up the next step for Colorcast, version 0.4 which brings general support for RAW video and includes support for Magic Lantern video files.
Magic Lantern is a free software add-on for Canon DSLR cameras that among other things enables users of Canon DSLRs to record RAW sensor data to a custom video file format called MLV. MLV files include a sequence of RAW images, audio samples and a bunch of metadata. Colorcast can read those RAW images and uses its newly added internal RAW Engine to develop high dynamic range images, that can then be color graded like any other video. Support for other RAW video formats like Cinema DNG will be added in one of the upcoming releases.
An option for displaying False Colors has also been added. False Colors, like the luminance waveform, is an easy way to quickly judge the exposure of parts of your image. By comparing the color of an image area to the scale on the left while adjusting the exposure, shadows and highlights, you easily get correct exposure without relying on display brightness and correct ambient room lighting.
We also vastly improved the Sharpening & Noise Reduction tool. It now uses edge detection to not blur edges during noise reduction or sharpen noise in areas. You can adjust the edge threshold and feather to optimize the filter results.
There are also a lot of smaller updates which can be checked out in great detail on the Version History page.