OFX is an open standard for compositing software. BlackMagic Design's DaVinci grading/compositing software now has a couple of pretty advanced non-linear editing modes, and there's a free version of DaVinci that anybody can use.
I used Adobe Premier Pro and After Effects and would really like to be able to export plugins for those Apps too, but perhaps OXF is more accessible to the community given free version of DaVinci Studio. For plugin developers I expect that the Adobe plugin market is bigger than OFX so I'll FR that to and see what gets more votes.
here's a page of info about comping/editing tools that support the OFX plugin API. And OFX plugins and more.
Implement "Image Filter" protocol for movies and "Filtered Movie" export option.
Would pass the audio track through unchanged.
For the Community Edition, the same 1280x1280 image-size restriction as the current movie export feature would apply.