Color Profile

There are various color spaces which encompass more or fewer colors. This function is used to convert images from one color space to another. The Conversion Method dropdown box allows you to select how the conversion is to be performed in cases where the target color space has fewer colors than the source space. You can use custom color profiles. These should be contained in files with the extension *.icc residing in the PhotoPerfect program directory.

see also:
How does PhotoPerfect handle embedded Color Profiles?