I'm a professional colorist. Color grading is more common now, but the terms are mostly used interchangeably. Older producers and film workers will still say

I'm a professional colorist. Color grading is more common now, but the terms are mostly used interchangeably. Older producers and film workers will still say color timing because they grew up in the industry referring to the purely analog photochemical process (last used on a big film for There Will Be Blood). It's also said on more expensive jobs when they're billing a higher rate for your work.