Bulk Update from Master Log

Is there a setting or group permission that I'm missing to enable Bulk Update from the master log? It appears that it only works on the project/shell level, but the master log I think is clearly the more useful location for a function like that to exist in the first place. Bulk updates, unlike bulk edits, allow you to update a number of records with different information - which makes it the most useful when updates are needed to records across many different shells.