I was just looking at the various 97SE versions that I have (to compare to the newly on usenet althor LD rips), including TB and Gkar. The Team Blu release is pretty similar to the others, but it does look to be adjusted throughout.

Anyway, I’m not sure what the dogmatic answer to your question should be. But I think they’re worth preserving when the color looks good. Aside from all of the 1997 SW films, the Raiders DVD and WOWOW color timing come to mind. None of these are timed accurately compared to their respective original releases, but they all look pretty damn good and very natural. I’ve finally managed to snag Adywan’s 97 ESB reconstruction, with color meant to match the 1997 version, and it looks really great.