I think I already found the answer to this, since I Googled and ran across a truckload of complaints. Apparently snapshots were last present in Ozone 5, since one guy posted "I have no idea why these were removed from Ozone 6" and another was complaining that Ozone 8 resets whatever it was using each load (plus is not as efficient to use).
 
Long story short, I only loaded the current iZotope versions and stuff that I actually use when I reloaded this machine, but was in sudden need of this feature tonight. I immediately found Ozone 8's rendition of this feature to be a bit clunky since they need to tap the same output. This defeats the purpose if you are working side-by-side with something (since it will apply to the matched copy if on a buss), and the resultant curve took two tries to save for me. A bit painful, then the "reset" aspect reared its head and I loaded Ozone 5 Advanced to get the snapshots back. Basically the snapshots are saved EQ curves, so you can designate the "Ref" and "targets" by loading into one instance of the EQ module and specifying which is which. I blew off buying Ozone 6, and as far as I can tell it wasn't in 7 either (from my memory), plus I am not interested in installing 7 again since I know that installer has custom installation issues.
 
Upside is that Insight has a version 1.05c out as of March 2018 (found during the O5 installation), but the O5 install also made a second copy I had to manually delete to update the 1.05b I had installed.
 
This is a good testament not to blindly kick older versions to the curb! Even iZotope's Matching EQ online help references Ozone 5 which shows the missing "Snapshots" tab (you can tell by the GUI, which was changed in 6 onward). What a helpful tool to abandon, ugh.
 
[/rant, sorry]
 
 

Just a theory, but I think iZotope dropped the feature because it wanted to be taken seriously as a professional mastering tool.
 
In the early days, Ozone was often dismissed as a cheat for beginners. Back then, even though we amateurs were raving about the product, they'd have had a hard time finding a pro ME willing to publicly endorse it. It wasn't until somewhere around Ozone 5 or 6 that I started hearing MEs begin to tentatively mention it as a legitimate mastering strategy. Nowadays, a pro ME wouldn't be embarrassed to admit they use Ozone in place of expensive hardware.
 
Along the way iZotope dropped the reverb module and the EQ-matching feature, while making Ozone's exciter more subtle and introducing more sophisticated auto-release algorithms for greater transparency. They really want to include "serious" users in their target demographic in addition to bedroom producers, and the truth is that mastering experts never use EQ-matching.
 
That said, I'd really like to see it come back. Although it was only rarely of any practical use in mastering, EQ-matching definitely has a use on individual tracks. It would be great to have it available again in the standalone EQ plugin.

Hey Bit, I am not familiar with the pre-Ozone 5 aspects, but that certainly makes sense. My conundrum last night was that the EQ Matching still exists (with identical functionality to O5), but the ability to save the *.snapshot files disappeared. The current setup actually promotes "EQ matching a bus/master" rather than use on a track, which seems to be counter-productive to your point.
 
Where I was using this was to tone-match a friend's vaunted PRS McCarty/Blackstar tone using a "close enough" TH3 preset and EQ Matching. This can be done with O8, but saving the curve, O8 resetting itself, and the fact that EQ modules do not cross talk (they must be on the same buss which defeats the whole point) is a royal PITA.
 
O5 is much simpler... two EQ modules on separate tracks, baseline the reference, save the snapshot, switch to the target track, load the snapshot, baseline the target, choose the ref and targets, then "Match" and tweak to taste (and save the snapshot again if the identical target can be used later). AFAICT, the "guts" of that module are unchanged from O5->O8, only the thing not there is the "snapshots." It is significantly more convenient to load a single EQ in the future and call up "Tom's Deceiver intro.snapshot" so the reference is right there without needing to pull it again (loading the reference track, baselining, yada, yada...).
 
I was expecting this to be a two-minute deal, but turned into a cluster. Upside is O5A is on this machine now, so next go-round it will be quick. Lesson learned.
 
Aside to this is that the match worked like a charm. The real end point is to show him suggestions with arrangement, but this was pulled from a 4-track, so I actually need to do a cover of it (and it is 7:12 in length).

The EQ matching feature is still there:
 
Available as plug-in

Equalizer
Surgical mode
Baxandall, proportional Q, band shelf, high, low shelf filter shapes
Mid/side mode
Match EQ
Additional post equalizer module
Additional post equalizer plug-in
Available as module
Available as plug-in
 
Rocky

Yep, still very much there, just the ability to save/recall the snapshots isn't.

∞

Given Izotope’s adding of other short cut features to their products, I’m not sure about bitflipper’s theory. Especially since a form of eq matching still exists.