Color management helps to ensure that the colors you see on your monitor are as close to how they should appear as possible.
In addition, you can configure what working color profile LandscapePro Studio uses internally. This affects the color gamut, which is the range of colors that can be represented.
For maximum speed, select the High Performance Display option. This allows LandscapePro Studio to optimize the use of color profiles for the screen when being used interactively. Regardless of this setting, your chosen working profile will be used when saving files.
Note: this dialog is only available in the Studio and Studio Max editions of LandscapePro. The Standard edition of LandscapePro works with Color Management turned off and 8 bits per color sample. This means that colors displayed on the screen may not be accurate, however color profiles are preserved which means that the images saved from LandscapePro will have the same color profiles as the images that were originally loaded. If using these images in other color managed programs the colors will look correct.
An explanation of color management
When color management is turned on, LandscapePro will ensure that the colors on the screen are correctly displayed according to the color profile specified in the image and your monitor profile. For the very best results, calibrate your monitor rather than using the profile that is provided by the manufacturer of the monitor.
For example, if you have a picture on your disk that you have saved with an sRGB profile and you also have the same picture saved with an Adobe (1998) profile, then theywill be displayed with slightly different colors with color management turned off, but when color management is on theywill look the same. In fact with color management on the two pictures could still look slightly different due to out of gamut colors being lost when the images were created, or rounding errors caused by the different color profile conversions in the process of displaying the images. However any changes would be very slight and normally not noticeable.
If you print a lot then a good rule of thumb is to use Adobe (1998) as your working profile, or if you mainly view images on your monitor then sRGB is more suitable. In either case it is best not to convert from one color profile to another without a reason, because during the conversion there may be colors that become out of gamut (i.e. they cannot be represented in the new color space) and so they will be lost, and also rounding errors could be introduced which would appear as color banding over smooth gradients in the image.