Photos on iPhone
Photos edits are global: every setting applies to the whole frame and the whole clip. That suits a quick correction or a gentle look, but it means you cannot cool the shadows while warming faces, change one colour without touching the rest, or load a LUT someone sent you. The edit is stored alongside the original rather than burned in, so you can return to it later. On iPhone 16 and later, Apple steers photos towards Photographic Styles, but those are for still photos; video keeps using Adjust and Filters.
iMovie on iPhone and iPad
Apple’s guide to iMovie for iOS (version 3.0.6) covers colour through filters only. Tap a clip in the timeline, tap the Filter button, pick a filter and drag the slider below the timeline to set its strength; None removes it. A filter for the whole project lives in Project Settings. There is no white balance picker, no saturation slider and no LUT import, so treat iMovie on the phone as a place to add a style to an edit, not to correct colour.
iMovie on a Mac
The Mac version is much more capable. Select a clip and click Color Balance to choose Auto, Match Color, White Balance or Skin Tone Balance. White Balance asks you to click something that should be white or grey; Skin Tone Balance asks you to click skin; Match Color lets you skim to a frame in another clip and click it to borrow its palette. The Color Correction button opens a multislider for shadows, brightness, contrast and highlights, plus Saturation and Color Temperature. To repeat a fix, choose Edit > Copy on the graded clip, select the others and choose Edit > Paste Adjustments > Color Correction.