10.4 introduced the new color tools. A few days later, Simon Ubsdell reported a "mystery" in conjunction with how the new Color Wheels worked in rec_709 and how the traditional Colorboard worked in rec_2020.
Some dared to call this a bug, others, among them Ripple trainer Mark Spencer, denied that right away.
If it was a bug and Apple fixed it with an update, what should happen with existing projects, in which a buggy tool had been applied?
I opened an existing 10.4 test project with 10.4.1. It had to be converted. I looked at my color corrected clips. They looked okay. I played with the Wheels: bug still there.
However, as soon as I put a new clip in the timeline, I first thought the bug was fixed for new corrections. The highlight-wheel worked exactly as it should - no matter the project's color space. Also the highlight puck in the Exposure tab of the Board worked perfectly in both 709 and 2020.
But the rest doesn't. Please test it for yourself. Now you don't need a gradient to see that the tools are broken. Apple surreptitiously tried to fix this, and had they fully succeeded, they'd had my respect.
Either use Chromatic, they have 30% NAB discount until Wednesday. Or roundtrip to Resolve. What do you think?
The but is in the scopes, not the color of the clip. Final coloring should be by eye after scopes are used, so I never had issues getting color grading done properly, even with the oddly calibrated scopes.