is broadcast-safe color correction necessary for non-broadcast?

I'm finishing up on a 60 min. 'superwhite' video doc that may or not be broadcast. It's color-corrected to my liking, yet not legalized. I've started pulling down the whites and saturation where necessary but find it extremely time consuming. I'd be quite content to leave it as is -- and legalize later if I indeed make a sale --and start burning DVDs. But will others run into problems on their TVs or settop players such as color bleeding or signal distortion? Or is this only for broadcast, and if so, can someone explain why?

On a side note, why would the 3-way color corrector automatically be pushing whites beyond 100 when I click auto-contrast?

Thanks in advance,

SC