Here's an interesting discussion about the colors...
http://www.madmaxmovies.com/forum/viewtopic.php?f=3&t=9850
It's sort of like the Raiders Blu-ray vs. the WOWOW broadcast from Japan... the best look might be somewhere in between the two images. I really think The Road Warrior Blu-ray needs to be a bit warmer.
The color timing has been debated for years now...
"The current blu-ray is the accurate representation of Road Warrior, and looks absolutely phenomenal. Earlier home video releases were color timed incorrectly to overcompensate for poor color reproduction on NTSC and PAL systems. This was a VERY common practice in the early days of home video, right through the 90s (Francis Ford Coppola talks about this on the Dracula blu-ray, I believe).
Colors were almost pushed to an unnatural degree so that they would appear more appealing and "pop" on the displays available at the time.
Yes, Road Warrior had previously been pushed a bit in the reddish/orange department to make it appear more "warm". And so had "Do The Right Thing".
But now they have been restored to their original color balance, and both titles are, in my opinion, 5 star transfers. I have no reservations in recommending either blu-ray to fans.
Now bring on Thunderdome and the original Mad Max!!"
"I personally thought this transfer looked dull. It's much more crisp and clear than the standard dvd, but the color timing does seem suspect, and the film seems to lose its 'post-apocalyptic' feel because of it. I actually found myself less interested in the film because of this, especially towards during the tanker chase scene, where things just look too 'green' and 'lively' to me to suggest a post-nuclear landscape.
Perhaps this has something to do with a different print being used (as the title card on this transfer plays as the Australian title 'Mad Max 2,' instead of North American 'Road Warrior.'). There does seem to be a lot of arguing on both sides of this one, and listening to the Miller-Semler commentary on the disc, I didn't seem to hear any comments about the film being color corrected. Anyone know if either of them had a hand in prepping the transfer for HD?"
"The current Blu-ray is the accurate representation of The Road Warrior."
"Er, no 
I can forward you to any theater doing a reshow from any print still out there and not made from a new Digital Interpositive. You will see the movie looked, more or less, like the old DVD.
This Blu-Ray is the equivalent of the French Connection Blu-Ray, it's not the film. It might have marvelous detail on some shots, it's like watching a rough print that is not color timed. This transfer needs to be redone right."