Yes, there are ways to fix this when you can program it ahead of time, but my biggest problem is that I need to be able to adjust this on the fly, usually by creating a group master/inhibitive to ride levels on the fly. It changes based on the content, the camera shot, the way cameras were shaded that day, etc. It is not something that can always bee foreseen as well, and that is where the problem normally shows up. Also, there are times when I am using the color fx (actually, I normally end up using color controls in every cue, whether it be an HSC mode to adjust for the particular display devices to match on camera, or just changing a color) so it's normally not an option for me to use the color parameters.
On other servers, its not as big of an issue, as there are dedicated Sat/Contrast controls or you have multiple effects on each layer, but in catalyst, you only have one color effect, which is controlled by the RGB parameters, so it is a much bigger problem for me with Catalyst.