Look Up Table a set of numeric controls to modify your image to make it appear correctly on a display or specific device say a film printer. Originally used to define the color parameters for matching on-screen computer graphic / Photoshop files to specific CMYK printers or monitors in the pre-press world - used in the HD/ film world for the same reasons to view content in its corrected on a display.
a term adopted by red users to describe the RED One's native color space.
A term used during the Reagan era to describe the Soviets control of outer space.
The term "Redspace" is referring to the way you translate linear sensor values into a non-linear data set. Given the non-linear human perception of light, you can save quite a few bits without sacrificing quality when going from a linear space in 14 bit to 12 bit log for example. There are established standards for this like CineLog, but these have been primarily developed for film scanners.
Obviously they are not perfect in the eyes of the engineers at Red for their specific needs – after all this camera is quite different from all others since it's compressing raw data before decoding the colors (de-bayering). So, I'm under the impression that they try to establish an optimized color-space for their camera starting with build 16 (currently still in alpha).
I'm sure we're going to learn more about it pretty soon.
Director of the Institute of Media Research (IMF) at Braunschweig University of Arts