I slowly get the uneasy feeling that there's more weird things going on than we might think.
I am running OS X 10.8 on a NEC PA271 with either Spectraview II or Multi Profiler (doesn't make a difference).
PM Color Management is set to sRGB and Color manage thumbnails and previews. RAW rendering is OFF.
When PM first goes through Nikon NEFs (D300 and D700) and Canon CR2 (5D Mark II) in the Contact Sheet it briefly shows a black bar on top and bottom of the thumbnails. Reds seem very saturated. The bars disappear and the images show up in a more greenish tint. If I turn off the color management icon in the Contact Sheet, the images show a more reddish version again. This happens in blocks. A whole bunch of images blink the first time I toggle the CMM icon and then show the tint difference, some rows further down they never blink and there's no difference visible.
I can only speak to the part about the initial thumbnails. The thumbnails with the black bars are the EXIF thumbnails and are of very low quality, but they load really fast so PM uses them temporarily while higher quality thumbnails are loaded.
When you toggle the color management off/on, PM has to generate new thumbnails color managed (or not if you've turned it off) and this process does take some time to complete--it isn't instantaneous.
As for assigning sRGB in the Color Management settings, that profile is
only used when the image being rendered has no color profile assigned to it (or embedded into it). What color mode do you shoot in on your cameras? It is likely that you have Adobe RGB as a setting which is a much larger gamut color space.
How do your images look in Photoshop?
-Kirk