Sample Readme
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An AviSynth script has been included to demonstrate that how you can read a srt/ass back into AviUtl.
The two project files must be opened using the ENGLISH localized version of Advanced Editing.
VSFilter.dll is also required. The plugin path in the avs use the one that corresponding to K-Lite Codec pack(32bit)

There are two project files for a reason...
If the L-Smash Import filter has a higher priority than DirectShowFilter, the resulting subtitle is inverted and mirrored.
If the DShowFilter has a higher priority than L-Smash, no change is need.

Once you have edited the AVS script pointing to your subtitle SRT/ASS, you can then add a new Video object in AviUtl, then refer to the avs file.