Chewtobacca said:

Why don't you convert to RGB to perform your color correction and then back for encoding? The quality loss is minor, in my opinion, and more than worth it.

Yeah, some parts might be in need for it.

Thanks for all the comments! Will try to make it more presentable then. The battle against the red continues in the Jundland Wastes: http://www.sendspace.com/file/a5fnir

Anyone got any theory what could have caused a frame to go missing like that in my previous encode, a bug in HC Enc? it still baffles me.