Wow, talk about a ram guzzler. My Mac has 16GB ram and doing this is about as processor and memory hogging as image stabilisation. I have used Magic Bullet Looks as a plugin in Final Cut Pro X and FCP7 for over 2 years now, and never used this.... Till now.
Here's a demo fellas, to demonstrate what it can do. It's only a demo, I'm sure with more time and adjusting I could get it better. But its quite smart as the paralex adjusting is exponential (well, it appears it is)
Forgive the error of titling. It's corrected - uncorrected - corrected - so on swapping. Titles did not update.