I do think the desaturation of high luminance red/orange is too aggressive when using preserve hue. Take this for example:
hue preserve off
hue preserve on
CalMAN LUT
Without hue preserve the madVR image luminance is too low and appears oversaturated - with hue preserve you lose all of the amber light and a good portion of the red tent.
The CalMAN LUT appears to mildly desaturate and both white and amber headlights look correct. The red tent brightens without loosing too much red definition.