The default Theatre Black 1 mode, what I'll call the Epson's "best" mode, out of the box, is off, but primarily by virtue o Epson having set the Color Temp default for this mode at 7500K. (What were they thinking - "everyone" knows that 6500K is D65 - the correct color temperature for viewing movies (black and white, excepted). I didn't even bother to measure brightness at the default, as it didn't make any sense to me (I imagine, though, I would have gotten more lumens than after the color temperature adjustment.
With just that simple fix, the colors were far, far better. All measurements were done with lamp on full power. Keep in mind, that there is usually a 200K - 300K temperature difference between projectors in bright and low lamp modes.