Consolidate and Transcode
Consolidate and Transcode in Project Manager should have an option to render effects from the timeline. Right now this is the only way we could export clips as individual files so it's really needed.
Also, Consolidate and Transcode doesn't work as you'd suppose when a master effect is applied. It should be fixed or at least there should be a notification warning a user about it.
Would be cool to have more advanced status bar information. Like how many files/clips have been processed, etc. It stands true for Collect Files as well.