I thought I had a handle on it: you have a calibrated profile for your display to cater for variances between hardware, plus you have a profile on your images so that you have a wide pallette to work with.
But it seems there's more to it than that. I've been using a second display and both are calibrated to look similar. But when I work with photos on it, CaptureOne applies the profile in some way and the photo looks substantially different than on my MacBook Pro screen.
1. Photo looks good.
2. I drag the window to the other display and it still looks good.
3. Suddenly it changes. A different profile has been applied and the photo's quite desaturated.
I wonder what I'm missing.