You can batch process in DPP and export the files in tiff format, use the beta camera raw with photoshop, or use the beta dng to create dng files that open and edit in LR4. The Adobr Betas are found at Adobe Labs.
i've used the tiff conversions from Camera Raw, and DNG conversions just fine.
They are Beta, so using DPP to create tiff files might be the best option. Just batch process a entire folder at a time. Your original cr2 files will be uchanged.