If you release and play as a CN you lose your unique ideas and any DHEs your country might have gotten
Fortunately, Colonial Ideas are actually pretty good. Or if you want some DHEs, form the USA (assuming you have American Dream). Sure, most of them won't kick in until the late 18th century, but at least you'll have them.
Only if you got the DLC, that i don't have. So not really a workaround.
From what i understood from Wiz is that it was specifically designed to stop a Navarra to new world (or similar OPM/minor) "exploits". And that they underestimated/forgot the impact it would have on new world/russia.
But don't quote me on that because i have been wrong before.
Also as a friendly word of advice, i got a pedantic undertone from your post. I highly doubt that was your intention but nonetheless it was the vibe i got. Please try to construct your post differently in the future, if at all possible.
Allegedly, it was because same-continent colonization was too powerful in general, and then the CN exemption was to keep it from making overseas colonization worthless (even though the regions with the CNs still got nerfed as colonial subjects due to the removal of means to reduce liberty desire and increased ways to gain liberty desire). Of course, Africa and Asia got a much better/less aggravating nerf to same-continent colonization - you simply can't do as much of it because so many of the formerly empty provinces got filled in with countries. And Russia isn't majorly affected because a.) the Siberian colonies were dirt poor before and half of worthless is still worthless and b.) the hordes get more land to take and are nerfed to make taking that land easier than ever. So in effect, it's only a real nerf to a.) nations fleeing to America and b.) Native Americans (who are told to comfort themselves with the fact that there are twice as many provinces (even though they're of roughly half value)).
Honestly, I wouldn't even be so mad about this discrepancy, except the potential difference between a (former) CN in the New World and anything else in the New World is larger than a westernized Ming's base tax.