Filters let you change the video during processing. You can apply any combination of CoreImage filters in any order you like.
As mentioned in Options Panel Filters are per option. Even though the Filter Tab makes it look as though there's only one set of filters, that's not the case. Filters are stored per preset.
In the example video of the motorcycle (Aprilia Tuono) we see that the color is actually very "pink". Lets correct that.




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You can apply many different filters all at once, in any order. Add more filters using the + button, and arrange them by dragging the filter up/down the stack. Filters are applied in a top down manner, those at the top being applied first.

Each filter has it's own properties, depending on the type of filter it is. These are all adjustable via the UI.
You can also change how each filter is composited with the output from the previous filter. In this example we've applied perspective transform. We can see it, but the previous image is showing on the background and we want to get rid of that.

All we need to do is change the layering mode of the filter from "Source Over" to "Source In". Then we have:

There are many more layering modes and filters available. Experiment to see what you can do!