Does that mean that it might offer better noise reduction too? I hadn't thought of that.
What I noticed about the sliders is that with grayscale mode if you set all the sliders at -1'', for example, all pure colors (i.e. colors that contain two or less color values - grey components are still gray) will come out black - all at '%; in color mode they don’t come out completely black, rather they are more in proportion with their original values, only compressed. For example, if you have a magenta value derived from R=128 + G=' + B=128 (in Photoshop) it will come out black ('%) if the luminance sliders are set to -1'' in grayscale mode; in color mode, they will come out at about 1'%. It looks to me like the color mode has a knee function at the extremes whereas grayscale mode clips at the extremes.
A color value that contains all three primaries, like R=128 + G=128 + B=128, interestingly (or oddly, perhaps), will stay at a mid-gray with both modes even if all sliders are set to -1''. It appears the sliders affect only spectral and synthetic colors and not natural grays. That means that if you try to stack virtual red, green, and blue filters in Lightroom the result will be different than it would be in the physical world. With real filters the result would be simply a darker image, with Lightroom the result is that colored components of the original image are darker but the components that started out as natural gray stay the same.
I just tried out another experiment. I created a spectrum with a neutral gray frame. Then I set all the luminance sliders to -1''. The spectrum came out very dark whereas the neutral gray frame stayed the same. This is true for all three modes - grayscale, color with saturations set to -1'', and color with the saturation values left at '. It seems to me that with all the luminance sliders set to -1'' the gray should have come out dark too.
From a theoretical standpoint this looks like a bug. It poses some very interesting possibilities, though. If Adobe corrects this, I hope they provide an option to leave it the way it is. I think I'll post this in the bug section as well.
Chris