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AS-05: AAF Effects Protocol
AS-05 AAF Effects Protocol Specification (pdf) 
The AAF Effects Protocol, AS-05, extends the AAF Edit Protocol, AS-01, to facilitate the exchange of metadata about video titles, opacity and color effects between post-production systems.
The protocol uses the AAF Object model to carry additional metadata not carried in the AAF Edit Protocol.
Title data includes the position, font and color of video titles. The color metadata is based upon the American Society of Cinematographers (ASC) Color Decision List (CDL) format, which defines a set of parameters for interchanging basic color correction information.