Color (Final Touch) was originally designed to work in Reels - 16 min. or so of shots (figure 200-300 clips?)
Break your show into 2-3 segments and Color should work fine.
Just do a quick test of sending the footage over (in 2 or 3 pieces), and then send it back unrendered. By the way, that's a great general practice with color anyway.
Yes, it means you'll really be handling more than one sequence if there are changes.
Best,
Jeff I. Greenberg
Editor/Author/Speaker/Consulting
My NAB seminar schedule, contact info and more