A method and system for accurate and precise representation of color for still and moving images, particularly sequences of digitized color images. Spectral and/or extended dynamic range information is retained as images are captured, processed, and presented during color adjustment. Using this extra spectral information, various methodologies for further presenting or processing the color within these images can be optimized. Presentation-device independence is achieved not by attempting to discover a device-independent intermediate representation, but rather by deferring the binding and mapping of color representation onto a presentation device until its actual use.