This effect was generated in Filter Forge, a Photoshop plugin that allows you to create your own filters.
This Filter is a bit tricky to use, but it's based on the way Television Cameras and Telecine machines work.
The Red, Green and Blue Controls are at the front of the filter, and the Stretch, Hue, Saturation and Sharpness controls are at the end.
It can correct some pretty difficult colour balance problems, or can create some interesting effects.
Colour Correction.