Canopus hasn't been actively developing plug-ins for Premiere for several versions. But you can use the Debugmode FrameServer plug-in to feed an export into a transcoding app like ProCoder.
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Unfortunately, the frameserver doesn't work too well in CS4 (extremely slow) and I have a feeling it won't see a CS5 update soon or at all. Satish, the author, has mentioned on the support forums that he can't/won't develop a 64-bit version, so that is likely going to rule out it ever working in CS5.
Whilst not ideal, I have been messing with the T2 for a while now - but am very very new to Premiere. I have been telling my clients to give me QT Animation files which the turbo imports just fine - though the files are big, there is no loss in quality after the turbo has converted.
feel free to e-mail me back if you want the spec's to render out to.
Although FrameServer isn't yet compatible with CS5, the project is now open source:
So other developers could continue the port to CS5, even if Satish is tied up right now. It's such a useful tool, hopefully it will be brought forward to CS5.