Well, it’s not really a Beta app, they obviously just abandoned it or lost interest because most users won’t even see a problem with colors. (We always need to keep in mind that we “perfect picture geeks” are maybe a total of 5 % of all users. Most won’t notice different color profiles or stuff like slight sharpness issues. Or they do notice but it doesn’t matter to them.)
It has been around since January or February and neither a new version of it happened nor has it been implemented in the OS. So, yes, I’d say after nine months, we can expect it to be usable and part of the regular OS. 
Based on Ivo’s screenshot in another thread, I guess at least some color settings are supposed to be part of future OS versions, but who knows if we’ll ever actually see that. 
Anyway, as either mentioned here or in another thread, the following settings deliver an okayish color result on my white wall:
Eco mode
Preset 14
R 650
G 110
B 330