This free plug-in fills a missing link in the Photoshop film production pipeline. It applies Kodak's standard log2lin transfer function to a log Photoshop layer, such as one you might get from opening a Cineon file. This is the same operation found in Nuke, Shake, Fusion, and the After Effects Cineon Converter.
In order to convert a log Photoshop document to a linear one:
1) Convert the document to 32-bit floating point, without altering pixel values.
2) Apply the Cineon Converter to each layer.
Once linearized, your Photoshop document is ready to be saved into a linear floating point file format (can anybody think of one?) and brought into your favorite compositor in the proper color space.