Some things are best filtered in the analog/pre-digital domain. I would suggest you do as much color correction BEFORE the capture is done (before the video hits that Canopus DV digital converter box). The AVT-8710 timebase corrector doesn't come with the best proc amp for altering color, contrast, brightness, etc -- but it can be better than nothing at all, if small tweaks are needed.
The frame synchronizer is part of the TBC, and it's all automatic. There nothing to adjust, turn on, etc -- one of the few idiot-proof video devices, easier than a VCR even!
You'll be fine, I imagine!
