The IRCP extension is associated with the Adobe SpeedGrade application used for color grading and color correction in video production.

It saves project timeline, including video clips, color settings, mask to be applied, settings, effects, etc. While SpeedGrade can be used on most any footage file type, Adobe has incorporated an edit decision list (EDL) workflow with Premiere Pro CS6 that maintains all the edit points to allow you to grad cuts separately on the timeline.