Q: Can I Install New Blue FX from Vegas Movie Studio into Vegas Pro ?
Answer: You don't have to re-install anything.
If you have Vegas Movie Studio HD Platinum Production Suite and the bonus NewBlue Fx installed on your computer, then NewBlue Fx and Transitions will automatically show up in the 32bit version of Vegas Pro.
However it will never work with the 64bit version of Vegas Pro because they are 32bit plugins.
When you buy Full Packs from NewBlue (not the sample packs from Movie Studio Suite) they give you the 32 bit and 64 bit versions of all the Fx. In fact when you buy NewBlue Fx, the installer will list many different brands and models of Video Editors which you can select, so that you can use them in Multiple Editors.