Basically, one can usually count on an original Technicolor print to be an accurate rendition of the filmmaker's original intentions. For example, current DVDS and digital restorations of Gone w/the Wind have a much bolder vivid color pallette, while Selznick and co's original intentions (as verified by original Technicolor prints that survive) were of a film with a slightly more sepia look to it, and tones that would probably be considered a bit flat by today's standards...
The HODS IB Tech print that was screened should, most likely, be considered an accurate representation of the color design of the film, though it was at times surprising, for one used to video transfers, and the print that Warners made in the early 90s (it's the one that's been shown around the country for the last 10 or so years, including the Vista). The print had vivid red title cards that were very readable, blues throughout had a coolness and a tangible electric presence (a Technicolor specialty), especially police cars, Grayson's horrible blue housedress,etc. but other colors were a bit muted, as were faces. Liz's yellow dress was still yellow and gross, but not as horrid and garish as one is used to. While this was initially surprising, it caused other aspects to seem smoother or correct... For example, Carolyn looks particuarly pale and deathly here, especially when she's found by Mrs. Johnson. The look of the film is darker, which seems to make the day for night effects more convincing and the interiors of Collinwood seem more shadowier. In fact, the murkier interiors and darker shadings are more evocative of the cinematographer's previous film, The Boys in the Band, with no backlighting, or highlights, allowing the edges of characters to blend with the shadows behind them. What was particuarly interesting were the reds. While newer prints and videos make the blood appear like paint, the darker timing here, made the blood appear more like blood. One additional benefit was that the shot of Willie walking Carolyn back to the house, which was horribly underexposed when filmed, did not stick out. Other transfers and prints have brightened the shot a bit, which has made it seem extremely noisy and grainy. The darker color timing here, helped hide the grain and made the shot stick out less than I've ever seen it before.
While personally, I would prefer more saturated fleshtones and warmer browns, I think there's a strong benefit and intention to some of the color design in the print, and while I certainly don't have the say-so, if pressed, I'd color balance future video transfers with a mix of the two ideas-- garish colors, but more realistic reds, darker shadows, etc.
I'm glad there was an opportunity to show it to an audience.
