Metadata is an important part of raw image processing and incorrect/incomplete metadata can lead to incorrect color reproduction and inaccurate default white balance.
Cinelog strongly recommends users of Magic Lantern to only use MLVFS or raw2cdng for extracting DNG images. We also recommend users only shoot raw video using the MLV REC module as it has deeper metadata support than the original RAW REC module.
MLVFS and raw2cdng are currently the only apps to embed both the correct camera ID and color matrix tags.
The Digital Camera Profiles in Cinelog-C for Adobe® Camera Raw® will override the color matrix tags so only the camera ID tag is mandatory if ACR is used for debayering, however DaVinci Resolve, Premier Pro®, Speedgrade® and other apps require both color matrix tags for accurate white balance.
We also recommend to developers of apps that extract or convert MLV to ensure the correct UniqueCameraModel tag is embedded independently for each camera (i.e. no generic tags) and that ColorMatrix1, ColorMatrix2 tags are populated.
See this MLVFS commit for the Camera RGB to CIE XYZ matrix coefficients of each camera. The color and forward matrices are gleaned from the latest Adobe® DNG converter®.