its a NewBlueFX plugin to convert .mts files to high bitrate .m2t files.... would this be a good software to use to work with most nonlinear editing softwares that wont natively edit AVCHD footage but will work with .m2t files?
If your using Edius, Grass Valley provides a free utility that does that - convert AVCHD to Canpus HQ format. It's in the download section in general utilities.