Oh yeah, I don't like the colour timing on the newer transfer of The Matrix. It makes it look just like the sequels, which is bad both because the other two sux and because it's just worse colour to begin with. It's too digital and fake looking--yes of course it's supposed to look like that anyway to some extent, but in the original it seems more subtle and less beating you over the head with the idea. Didn't they use a filter on the lens for part of the effect instead of doing it all on the computer?
The newer transfer does have nice contrast and definition, though. It would be cool if someone could colour correct it back to the original look, to get the best of both worlds. Although sometimes I even wonder about that, because when you look at the menu the colours are clearly different again. Hmm . . .