kk650, tehparadox and former ot.com member, has created versions of the Lord of the Rings movies with corrected color timing. The following is copied from his description on tehparadox:

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Fellowship of the Ring

When The Lord of the Rings: The Fellowship of the Ring Extended Edition blu-ray came out, many noticed that in comparison to the theatrical release and previous DVD and blu-ray releases, a darkening green tint had been applied across the whole film, turning snow and clouds meant to look white green and making everything look underexposed. Even the title, end credits and fade to white in rivendell were affected by this blanket green tint, giving everything in the film a green tint, including fleshtones.

The underexposed nature of the new transfer also led to many darker scenes like the mines of moria being very difficult to make out on the screen and daylight scenes like those in Hobbiton seeming very overcast rather than sunny like they were in the theatrical release and every other home release.

As you can imagine, there was a lot of controversy, with many calling for the studio responsible and the director to admit with a statement that a mistake had been made with the transfer of the blu-ray and for new corrected replacement blu-rays to be provided to those that had bought the flawed original blu-ray release. As you can imagine, that did not happen and that´s how things have stayed to this day.

With that in mind, I have gone ahead and created a corrected version myself, removing the blanket green tint so the snow, clouds and the fade to white in rivendell are indeed white again like they were in all the previous releases, returning this beautifully shot film back to its former glory and correcting the brightness and contrast so the film no longer looks underexposed.

I hope you like what i´ve done here. Please post back here saying whether you enjoyed this release, it would be greatly appreciated.

Technical Specs:

Name: Regraded The Fellowship of the Ring: Extended Edition

Size: 15.3 GB

Video: 1920x804 H264 23.976

Audio Track: English DTS Audio 6.1

Subtitle Track 1: Elvish Subtitles in English

Subtitle Track 2: English Subtitles

Subtitle Track 3: Spanish Subtitles

Available in 2 versions: one less dynamic/contrasty and the other more dynamic/contrasty (kk650's preferred version)

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Return of the King

Like the Fellowship of the Ring Extended Edition blu-ray, the Return of the King also has a green tint running throughout the whole film, so I have created this regraded version which has the green tint removed, returning the films true colour and making for a far more visually satisfying experience. Unlike with the Fellowship of the Ring Extended Edition blu-ray, the contrast and brightness on the Return of the King Extended Edition blu-ray are spot on IMHO so those remain the same in this regraded version.

In terms of editing, two changes have been made to the film:

The first change is removing the silly scene at the start of disc 2, the one where Peter Jackson gets shot by Legolas by mistake when Gimli nudges Legolas´s bow when he shoots, then Gimli has a very silly Oops reaction. It was removed for two reasons, the first being that its very cheesy and silly and comes across more as a Peter Jackson and crew cameo fanboy scene than a proper scene in the film that serves a real purpose. The second and more important reason is that it reveals the Army of the Dead too early, taking power away from their dramatic entrance into the battle of Pelennor Fields later in the film. The theatrical release did this much better without this superfluous scene IMHO so I have returned it to how it was in the theatrical release.

The second change is to remove something that has bugged me a great deal ever since I first saw the extended edition, that is Aragorn beheading the Mouth of Sauron. This never happens in the book, he is allowed to leave unharmed as a emissary of Sauron protected by the rules of Parley. To have Aragorn behead him in the film when under Parley cheapened Aragorn´s character a great deal, taking away a lot of his nobility for me and worst of all was completely at odds with his character as established in all the other scenes in the three films. The film version of Aragorn established throughout the three films would never do that. The book version of Aragorn would never do that. I lost a lot of sympathy for Aragorn after that, very stupid change from the book by Peter Jackson IMHO. Definately the low point of all three extended edition films for me. 

So I have edited what is a great addition to the film IMHO, the Mouth of Sauron, so a lot of Aragorn´s stupid reaction shots have been removed and the beheading and everything directly leading up to it (starting with Aragorn moving menacingly towards the Mouth of Sauron) has been removed. Everything else has been left intact and I feel the scene flows seamlessly and is now much better than the extended edition, the Mouth of Sauron is able to say his piece and then leave unharmed which is much better IMHO, the nobility of all the main characters remain intact. 

I hope you like what i´ve done here. Please post back here saying whether you enjoyed this release, it would be greatly appreciated.

Technical Specs:

Name: Regraded The Lord of the Rings: The Return of the King Extended Edition

Size: 16 GB

Video: 1920x804 H264 23.976

Audio Track: English DTS Audio 6.1

Subtitle Track 1: Elvish Subtitles in English

Subtitle Track 2: English Subtitles

Subtitle Track 3: Spanish Subtitles

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The Hobbit

Like the fellowship of the ring extended edition blu-ray, the hobbit: an unexpected journey blu-ray release also had the same blanket green tint added across the whole film. It´s easiest to see when the film title comes up against the background of the clouds. Both the title and the clouds are green on the blu-ray. I personally like my clouds and snow white rather than green though so I have gone ahead and removed the blanket green tint across the whole film. I now feel that the film is far more pleasing to the eye and therefore a lot nicer to watch. 

I hope you enjoy what i´ve done here. Please post back here with feedback of what you think of this release after you check it out, it would be greatly appreciated.

Technical Specs:

Name: Regraded The Hobbit: An Unexpected Journey

Size: 15.5 GB

Video: 1920x804 H264 23.976

Audio Track: English DTS Audio 7.1

Subtitle Track 1: English Subtitles

Subtitle Track 2: Spanish Subtitles

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Uploaded to Uploaded and Netload; links and screenshots available on Tehparadox.