The aim of the color management extension is to allow clients to know the color properties of outputs, and to tell the compositor about the color properties of...
KDE, Gnome, Gamescope and now Wlroots already have a working implementation of the protocol.
I have waited so, so long. Recently color profile support (ICC) was merged & upstreamed to many repos so I finally reswitched back to Wayland since my colors are no longer broken on my displays.