Please add the option to Reload Footage from the project panel.
Example:
You have an image sequence in your timeline. You edit the sequence in AE (for example) and re-export, having now a sequence that is 1 second longer. This doesn't update in Premiere, which see there have been changes to the sequence but it doesn't realize it's now longer.
You now have to select your sequence in the project panel, click Replace Footage, navigate back to where the sequence is (very annoying) and select it again.
Just add an option (like in AE) to reload the footage instead.