We deal with a lot of really faded old color film negatives which I will often use the colorization filter to restore the color by various methods such as using auto color and then using manual color and the eyedropper to replace parts of the image with the right color to match the original film image...or what it was supposed to be. For instance, even though the film is faded and color shifted, I can still tell that a car in the picture was supposed to be blue and a mailbox was supposed to be red. After , I let the software save this in a new layer and then I play with the opacity and mix it in to where it is still acceptable as displaying what the original colors of the image were supposed to be.
What would be nice is a "color restoration" option in the colorization window that could be checked and then the A.I. would take into account the original colors of the film scan, interpreting, what the colors should be of different objects in the picture. Like what I have to do when I'm using manual mode. One obivious situation to train the A.I. on would be old slide film that has turned completely red, like a lot of the Ektachrome from the 1960s.