NeverarGreat said:
So essentially the Technicolor film would be created based on the color separations, which were printed on Eastman stock.
Right, but the separations aren't "prints". They would be b&w negatives, 3 of them, each recording one color record (Red, Green, Blue).
"Three b/w color separations were produced from the Eastmancolor negative and printed by dye transfer on blank film"
This essentially re-creates the process of the 3-strip camera, without the film having to be originally shot that way. The resulting print would be dye-transfer (non-photochemical). Only the negs would be photochemical. This is how the IB prints for Star Wars were created.
The 3 B&W negs have to be combined to produce a full-color print, so if you're looking at something full color, you're not looking at a separation master (and nobody would have access to one to cut up and sell, anyhow).
With new blu-ray releases of older films, they're using sep masters to create photochemical prints for the new transfers. But even if Technicolor makes them, they're no different than if they were done by Kodak or Rank or any other film lab. The Technicolor name doesn't mean anything anymore since all their dye-transfer operations are long gone.