Quote: Is there somewhere else where I can simulate different colour filters and saturation ?

Thats exactly what you need! Click on the clip in the timeline, and click FIX AND ENHANCE in the middle bar. That will bring up a window where you can edit these values. You can also have them change by keyframe.

Yes, that does the trick. (No filters, though).

I tried it on a clip which has a super blue sky, going from deep high up to pale on the horizon, and it produces really horrible tone bands in black and white, often found in continuous tone 8-bit images - I suppose to be expected. I will need to do some thinking about that, and what can be done to prevent it. i7 980x; W7 Pro; 12GB; Nvidia GTX 285; 2x300G Velociraptors in Raid 0; 2x1.5TB Barracuda in Raid 1; 2TB WD Studio Ed.II (eSATA); NEC SpectraView Reference 2690 + MultiSync EA232

There is also a Black and white Effect in the effects room.

You have to modify the effect to suit what you want to achieve.

Pay attention to the degree slider, when the effect is first applied, the degree is set to zero (full color), you have to slide the degree toward the right for more grayscale. Max is 200 (full grayscale).
Carl312: Windows 10 64-bit 8 GB RAM,AMD Phenom II X4 965 3.4 GHz,ATI Radeon HD 5770 1GB,240GB SSD,two 1TB HDs.