Sequence A on V1, sequence B on V2.
Turn off visibility of V2 to see V1.
Thank you Peru for your answer but this is not what I'm looking for. This method doesn't help me with the workflow.
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Have both Sequence A & B loaded in the program monitor so that you can tab between the two sequences in the timeline.
Click on the tab for Sequence A and move the playhead to the beginning of the sequence.
Load Sequence B from the project panel into the source monitor, and take the playhead of the source monitor to the start of the sequence.
Return to the Program Monitor, and click on the wrench in the lower right corner of the monitor and from the drop down menu choose "Gang Source and Program".
Now the two will move in tandem, and by tabbing between them in the in timeline you should be able to copy and paste your effect(s).
Thank you Meg!
"Gang" is the key. I didn't remenber the word but I remenber using it on Final Cut Pro.
Anyway it only solves a half of what it'd like to do.
Now both senquences are "ganged" on Source and Program, but not the playheads of both timelines.
Is there a waye to Match frame from source to Timeline? I didn't find it in Shortcuts.