Ultra key playback
You can't playback any changes you've made with ultra key without first rendering the footage in the timeline. This is unacceptable. It used to not be this way.
In what previous version was rendering unnecessary? Has anything about your system’s configuration (other than the PPro version in use) changed, since then?
I have also tried this on different computers and on both apple and PC operating systems. With different project files. The problem remains. So lets move on from my hardware.
Nothing in my system has changed. I updated this software and it no longer works. Just like with my inability to now remap audio channels in audio files. It was there. Now it's gone.
Up until two weeks ago. I could apply a dropper tool. And furthermore, I could add any sort of color effect. And that effect would be applied instantly. Now in order to see the change, I need to re-render the footage.