Chrome distorting video colors

I run into a really strange issue where Videos that look OK on Firefox (OGG) and IE (via Flash player) look really crap on Chrome (mp4). For example Gold looks more like Green etc…
The mp4 videos look great when run on BS Player.
I Google a bit and found a few more similar complaints, but no solutions:

David Cribbin Animation ®: Google Chrome html5 video player

Any ideas how to tackle this issue?

Why not encode once to h.264 and play back in flash on chrome

because Iphones/Ipads won’t be able to view the movie