Brendan Bolles has posted an update to his free JPEG 2000 plug-in.
It has some pretty substantial improvements for AE. First of all, there is an expanded dialog with extra compression options, letting you set things like an arbitrary bit depth.
Also, it’s now AE-native and supports Auto Proxy, meaning that when you’re working at half-rez, j2k is able to read in only the pixels it needs which can really speed things up. This is a unique feature of JPEG 2000 wavelet compression (similar technology is also seen in Google Earth).

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