I use Mercalli to stabilise my wildlife clips where I was unable to use a tripod, and to keep things simple, export the stabilised and colour-corrected clip as a "lossless" intermediate file using the free download Avid DNxHD codec. This produces a high quality .mov file. I then import these stabilised clips to my Premiere project and replace the originals with them, saving with a new project name.
On the Avid site, there is a useful guide to using intermediate files in this way to avoid projects becoming over complex - or in the case of the Warp stabiliser seriously overweight!
I use a PC, but this workflow should be fine for a MAC. Some people may suggest using UT or Lagarith as intermediate file codecs, but these are PC only as far as I am aware.