Well, that is interesting about the colors. I personally use MPC with MadVR, so that's what I'm seeing and thus what's intended by me.

As to the sharpness, in switching between the first two screenshots, I don't see any difference in sharpness - and that's how it should be - the image is already sharpened a bit to compensate for the 1080p to 720p conversion, so the third shot seems oversharpened to me but I guess it comes down to personal preference, if you like it sharpened like that, it's of course up to you, but the intended sharpness is as is in the first two screenshots. Also note that further sharpening the picture will bring out compression artifacts and the sharpen complex shader (be it 1 or 2) in my experience has some weird side effects too.