Tom wrote:Visually lossless is just another way of saying Lossy. It just sounds better than saying "yes its lossy, but you probably won't be able to see the difference"
When properly designed, "visually lossless" can indeed be indistinguishable from the original. There is a catch though. In the scientific community, "visually lossless" has always been meant for final images, with compression parameters calculated under specific viewing conditions with fairly strict statistical psychophysical vision models in mind.
Enter post-process into the equation and all this goes south. You never know how the image will be abused in post, hence you can't really claim "visually lossless" for post-oriented compression.
And related to the OP's question, there might be something cool coming soon in an update to a certain program linked in my signature.