Floh,
IF I am understanding you correctly, if you are running AE on the same workstation as M100 with an AJA card, the LUT system becomes active, but M100 does not access that portion of the AJA control?
So, you don’t really work with color management in AE, correct? I am primarily using it to apply the 16-235 at the render (SDTV 16-235 color management on my output module) to do the same thing you are accomplishing with levels.
Sounds like you are rendering into ProRes at full range and bringing that into M100 and that provides you with seemless results? I had tried that in the past and just round tripping a clip with no effects mine was not matching.
Thanks for getting into this one, I am really hoping to get more accurate results as we do quite a bit in AE.