From Max Lyons:
ColorFix converts the colors in JPG and TIFF images from one "color space" to another. Although ColorFix can be configured to convert between any two color spaces, its default setting is to convert the typically flat colors produced by the Minolta DiMage 5 and 7 digital cameras to something more appropriate (sRGB color space) for viewing on a computer monitor. Unlike most current digital cameras, the DiMage digital cameras capture images using a special, wide "color space" that may not display properly on most monitors using conventional image viewing software. ColorFix converts the colors in these images so that they appear more natural (i.e. vibrant) on a computer monitor.
Note for Minolta users: The Minolta cameras come with software that converts from one color space to another. However, unlike ColorFix, the Minolta software also applies additional "image corrections" that cannot be controlled by the user...adjustments happen "automatically" with the DiMage software and can often give unpredictable results. ColorFix only changes the color space (unless you explicitly specify additional contrast/color saturation changes), resulting in uniform, predictable color correction from one color space to another.