Apple Color 1.5 - Manual (Page 321)

2 Move the playhead to the shot with a grade you want to save.
3 Select the grade that you want to save by clicking it in the Timeline.
4 Click in the File field underneath the corrections bin, enter a name for the saved correction,
and press Return. (This step is optional.)
5 Click the Save button (in the bottom-right corner of the Grades bin).
The grade is saved to the Grades bin.
The grade is saved with a thumbnail from the shot it was saved from. Once you've saved
a grade, deleting, organizing, and applying grades is identical to deleting, organizing,
and applying saved corrections.
Grades are saved to the /Users/username/Library/Application Support/Color/Grades
directory.
321 Chapter 13 Managing Corrections and Grades