Yes, this has always been an obtuse and confusing workflow for Avid.
I also export RGB as well. The only problem is while it matches the digital-file colour space in AE and FCP, it also clips anything over or below those levels. So if you export something that has not been colour balanced, you might lose information.
Also, if you mix your YUV export with image files in RGB in AE and then export, your levels get messed up unless you have a workspace designations for each file.
As mentioned, make sure you import as YUV into Avid no matter what the colour space. Again, Avid just figures it out and the RGB import option just slows the process down (even though it seems correct for an RGB file to choose that option: ARGH!).
Confused yet? I do not mean to seem hot under the collar but Avid’s methodology has remained a confusing, arcane art for too long.
Avid, by maintaining backwards compatibility, seems doomed to their unique methods that do not match any other application but their own. If they just explained the workflow in their manual it might help, but for some reason they fail to do so. There is no excuse for this continual omission, resulting in frustrating editors and graphics designers for years.