This post is CO commenting on the master back in early Dec.
I believe the master was done by this point, based on the discussion @ bluray.com
I wish CO was releasing first as despite my dislike for 88, I may buckle and order theirs first.
AMUCK!: Yes, the scan was done at Bologna. We instructed Bologna to send us a sample of a "light" color correction (i.e. neutralization of redish, greenish, yellowish tints) to speed up the process since we were in a hurry to provide the master to our licensor and our sub-licensee 88 Films. The sample looked good, we gave the go-ahead. What we received, though, was their usual teal & orange correction which we didn't want (of course this is the last time we will do the grading NOT in-house -- we learned our lesson). So we re-graded the whole thing in-house and removed the crazy tinting to get the neutral grading there is now (which we will also have to do for our upcoming BLOODSTAINED BUTTERFLY release, and which we have done for basically all our releases so far). The lush, slightly Technicolor-look is correct, though. It looks beautiful now, and we are extremely happy with it.
2-perf is absolutely right with his assertions. Also regarding the difficulties of dialing back the result of the LUT application. However, even if you look at the Code Red DVD, you can see that the film has this velvety look to it which is just there. We received some ungraded scanning samples from Bologna which also had that quality. We undid the Bologna correction depending on shot from shot. Some were quite alright, some were incredibly off.