Just my opinion,
When working with the lighting for the bands, I have found that various lights put out different wavelengths of light creating different color textures and changes in viewing things like paint on the wall. Photographers should also be able to recognize this also. If you visit a home store they have some displays showing the differences different bulbs will have on the room, colors, and your skin color. So if you are using a light in a room when viewing the video it will have an impact on the colors you see on the screen. If you have lights that are color balanced you should not need this, however most consumers are using soft white (yellow tinted) light. I use a daylight bulb mostly around the home. LED is not 100 percent equal to some of the uses we find on stage. So I still use Halogen with LED stage lights. Some of the LED that are lower budget cannot equal the output of the 500 watt stage lamps. I have finally started to see LED lamps in the home center for 60 watt equivalents but not the 150, 200 or 500 watt output yet.
So Coloriq is in my opinion adding a filtering to alter what your seeing based upon your lighting. You can change the lighting or change the screen output to the room lighting.