You can make use of the sequence feature of Pro. I'm fairly new to this, and I'm sure there's a less fudged way, but this should work:
Locate the default sequence (sequence 01) in the project window. Right click and select duplicate. You should now have sequence 01 copy in the project window (you could rename this if you want). Drag and drop this to the end of your timeline. Now apply your effect to this video you've just dropped on the timeline.
This is a quick alternative to creating a seperate file and dropping that on the timeline. Don't delete your original clips on the timeline. If you make any changes to sequence 01, repeat the above.
As I say, there's probably a better way to use the sequence function.
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