Urban and John,
Thank you both for your clarification.
I am familiar with color saturation and include ColorThink amongst my 'must have' apps, hence no can of worms for me I'm pleased to say. But I was interested in finding out John's reasoning.
Y'all might find this thread on DPR of interest:
http://www.dpreview.com/forums/post/54889359
I have a post there going on about a flower shot where indeed it took a while to persuade the OP that his rose petal image was quite badly color-clipped (by which I mean out-of-sRGB-gamut, hence clipped to the gamut boundary when saving as sRGB JPEG) - but he agreed in the end.