because you’re working with light, I thought this might be helpful.
Color Problems no more…
After Effects comes with a built in edge and halo remover for high-contrast, saturated colors. File->project settings, Linearize working space 32bpc. This works for image re-sampling, blending layers, motion blur, and anti-aliasing.
from post:
https://forums.creativecow.net/thread/50/855722
If your footage is 8-bpc, then keep working color space the same as the output color space, but I’d still recommend 32-bpc because working in 32-bpc color allows over-range colors.
The cool thing is, 32-bpc are not limited to the color boundaries of even high def footage. The over-range colors are simply a more accurate way to color correct even if you are going back to a smaller color range.
The most important thing is knowing where the final footage is going. If its for SDTV, color boundaries should be SD or you’ll have illegal chroma or luma and have to use plugins to subtly soften the extremes. There’s a HDTV (Rec. 709) for high def and a sRGB IEC61966-2.1 for the web, too.