Just knocked up this little proof of concept device. Integrating the 3D view as an interface for the VSE color correction effect.
Use the Transform effect in the .blend to modify what ever is below it. Add your own media and play back the sequence. While playing, move the Cube in the 3D view. The X, Y, and Z co-ordinates are mapped to R,G and B on the gama modifier.
It relies on drivers that are only updated when playing back.
Faux CC.blend (524 KB)