[Amine Alameddine] "But it does matter for previewing on your monitor while working. Before working in linear workflow in AE, i relied on my monitor's profile to give me somehow accurate representation of colors, so i know to some extent that this red color i'm choosing will look the same as on a TV for example."
You generally don't want to use your monitor's profile as the working space (especially if you are working below 32bpc -- see below). You can stick to sRGB or Rec. 709.
A brief explanation of color management: After Effects transforms all colors from the profile specified for footage in its interpretation to the working space, and does all calculations in the working space. It can optionally transform the results from the working space to the display profile for previews or to another profile specified in the output module at render.
In other words, the working space must match neither the display nor the output profiles. However, if you are working below 32bpc, your working profile should be at least large enough to contain the output profile. If it is not, your renders may be clipped to the smaller space.
Walter Soyka
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