So, I'm calling this done, unless there are some major concerns anyone brings up after seeing the piece.
I experimented with some limited colour-correction in Womble just to see, but of course it was as bad as I feared. This was weird, because Womble real-time applies the correction when you watch it on the timeline in lossless quality, but when you export it re-renders it instead. Don't know what that is about.
So, having said that, can anyone recommend a good, easy way of colour-correcting with Womble in mind? I'm sure there must have been people here who have done this. I'm only going to be correcting about 25% of the new footage, maybe 2-3 minutes worth, usually around the transition shots if its inserted within an existing scene, as I don't think a full correction pass is necessary. Any suggestions?
EDIT
Nevermind. I was using an older Womble (4.-something). The newer (v.5 and beyond) uses a new encoder. The re-encoded footage isn't quite as good as the lossless original, but the difference is quite minimal. The results are very good. Hopefully have this up within the next 48 hours.