With C1 the LCC file is a raw file, once it has been selected LCC file C1 and saved as a preset, C1 incorporates that into its preferences and stores the data somewhere. I know where those LCC preferences are stored (on a Mac), but I do not know where it actually puts the raw data. The original raw file wish is source LCC file is always there and can be saved for later recall.
As for the file being corrected, the LCC can be changed at any time in C1. I had numerous presets for the same lens which I created in the studio and then applied to all subsequent images whether shot in the studio or outdoors. My standard grouping of LCC presets for a lens was -
1) 80mm Landscape, wide-open @ 6 Feet
2) 80mm Landscape, wide-open @ infinity
3) 80mm Landscape, F11 @ 6 Feet
4) 80mm Landscape, F11 @ infinity
5) 80mm Portrait, wide-open @ 6 Feet
6) 80mm Portrait, wide-open @ infinity
7) 80mm Portrait, F11 @ 6 Feet
80mm Portrait, F11 @ infinity
In practice I found #4 and #8 worked for just about everything taken with a 80mm lenses. The other versions had subtle differences. If #4 or #8 didn't work well enough, then I'd try the other variants. Since it's just a drop down menu (with all the presets), toggling between the LCC was very easy. One thing that I always felt influenced the effectiveness was the white balance. If the picture was 4000K and the LCC was created at 5500k, then correction didn't seem quite as effective. Usually my stock LCC's were good enough that I didn't worry about it.
It's been nearly a year since using C1 with a Phase back, so I may be wrong here, but I thought in C1 Version 4 the LCC settings could be copied and applied to subsequent files?