I believe it can only be done from the Project panel.
Jim is correct. Currently the only way to access the Source Settings is from the Project panel.
You might want to discuss the workflow aspects with other RED users. It sounds like you're trying to use the source settings as your primary coloring tools - while it's certainly possible, it's not necessarily the most practical approach.
Here's a couple of scenarios you might want to consider:
- base grading in CineX. Sort through your shots, alter your color metadata in that environment. The beauty of this is that all your color metadata changes will automatically be picked up in Premiere Pro, as it reads the same metadata saved by CineX (pick As Shot in the color settings - note that you can multiselect all your RED clips, bring up the Source Settings on one of them, and the change will be applied to all the selected clips).
- for secondary/final grades, if you're using a GPU card with the Mercury engine, try one of our native color correctors (either the 3 way, or some people prefer the RGB curves).
- alternatively, now that we have SpeedGrade, you can push out an EDL of your timeline & bounce that into SpeedGrade for your final grade.
You might want to check out this thread on the red forum, Brad has put together a number of useful tutorials around RED workflows: