From the Red Giant blog:
- We’ve developed Magic Bullet Denoiser II from scratch (completely new code) to bring you the quality of Denoiser 1, but with more stability. Red Giant owns this code 100%—which means the product is not going anywhere.
- We have spent lots of time developing the default settings for Denoiser II to give you the best possible look as soon as you apply. There’s is always room to tweak setting, but often you won’t need to.
- Currently Denoiser II is only available for After Effects, but it will support multiple host apps in the future (read this FAQ for more info).
- Denoiser II is a Free Update for all Denoiser 1 and Magic Bullet Suite users. I repeat: If you already owned a license of Denoiser or bought the Magic Bullet Suite after Denoiser was discontinued, you get Denoiser II for FREE.
I use this on everything I shoot.