Chuck, are you sure your source is 4:2:2? Almost every AVC encoder will convert to 4:2:0 on encoding, and I don't think ffmpeg supports decoding of higher colorspaces at all. If it's an interlaced source that gets color smeared on preview, try adding converttorgb32(interlaced=true) at the end of the script to fix that, as long as the interlacing was properly encoded in the stream.
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