Removing the green indicator
When filming in campaign,its best to keep the camera close to the player,So you don't show the green indicator that remains above each players head while playing In Co-op. But sometimes you need a wide shot,thus revealing the indicator,So here's how to remove it in editing.
After Effects | Premiere 7x | Sony Vegas
Source video
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Film your player doing whatever,Then remove him off the scene - then Film nothing but the background. DO NOT move the camera at all during this. Once you have filmed your Player AND the background put them on the timeline like this.

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Right click the player video,and Click Mask>New mask.

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Expand the mask options(1) and click mask shape. Then pull the top of the mask(2) down below the green indicator

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That's all!
Final Outcome