You can select what the thumbnail is for each clip in your timeline.
Set the right Display Color Space
Quick view on Project Aspect Ratio Setting
Set your project when using anamorphic footage
Step by step guide on how to use the features of LD 2.4 in the right order. May The Color Be With You
Your looks might be "off" if you have incorrect settings after creating a look in Colourlab.
Standard SDR settings, and using a calibrated monitor.