I just installed in on my 7D, but won’t have a real chance to play with it until tomorrow. As far as I can tell, Technicolor has provided a way to record the log image data from the camera sensor, without baking in the Rec709 color space (standard for HD). The result is more retained detail in the highlights and blacks of the image. Straight from the camera, the image will look flat, low contrast. In theory, it will be excellent for color grading and image sweetening in post production.
Although the profile helps retain highlight and black details, the video is still compressed using H.264 compression. Will the new profile crush the subtle details by baking in a flat look?
In the end, it’s free, and created by color geniuses, so it’s worth a shot. I’ll let you all know what I discover as soon as I get a chance to play.