Hi there,
First off, thanks for implementing ColrV0 and ColrV1 color font support in Photoshop. On using them however, I did notice a visual bug which might have overlap with this issue in InDesign. In variable color fonts using the ColrV0 and V1 spec I notice misalignments in various layers throughout the glyphs. Static versions of the same fonts render fine and also do so in Illustrator and other apps.

As you can see in this ColrV0 example, in the top variable version, all the "circle" elements are misaligned compared to the version below. You also sometimes see colored elements unaligned with their outline.

As you can see in this ColrV1 example (Nabla), in the top variable version the tops of the letters are unaligned.

Another example: In this font (Kalnia Glaze) it only occurs in some letters (d/l, and I did not have the static variant, but it seemed to correct itself based on the variable axis position. The same happens with part of the axis in Nabla).
Tested in Photoshop 26.8.1, MacOS 15.5