Converting everything to ProRes will save you headaches. As long as you use the best settings in conversion (some would say that even 4:2:2 is enough) you should be fine. Cut, add effects to the ProRes and render back ProRes, then grade and export away- no need to go back to RED unless there's lots of money involved and a super demanding client.
Well since you're asking in the After Effects forum, I assuming you're doing your grading and conform in AE, and just the cutting in FCP. Consider grabbing Automatic Duck. It's now free and, if I recall correctly, it will take a FCP timeline with prores and replace them with the R3D files when creating the After Effects project (basically putting the R3D files online for you).
But to answer your question, you can add effects to R3D files in After Effects... I have a full timeline of Epic footage right in front of me.
When shooting day for night make sure the DP is looking after the following:
- Keep the depth of field shallow: a visual cue that confirms a low amount of light
- Frame the skies out out of exterior scenes or consider using graded ND filters
- Avoid objects with high saturation. Low light situations usually result in muted colors in the shadows.
- Throw as much of the background into shadow as possible. Deep, evenly lit scenes don't transition easily to day for night.
- Under expose by 1-2 stops. This helps mute color and contrast but maintains healthy midtones and highlights.
For color grading, day for night usually means "relighting" the scene by drawing multiple masks to reenforce shadows or pools of light with lift and gamma controls. While cooling the color of a scene might seem like a good choice, make sure it works in context. If a scene is lit by sodium street lights, incandescent bulbs, or candles then you go more yellow/orange.
Also, watch out for lighting conditions that are prone to create shadows that are a dead giveaway that the scene is shot in daylight. Unless the scene is intended to be night under a full moon, the high-contrast shadows of a clear sky at noon don't play well. An overcast day is usually better. You may also want to consider shooting dusk-for-night as well.
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