I love the idea of using a strong and somewhat arbitrary palette which is then tuned with "post-processing" layers. Instead of worrying about the exact shade of every color separately, you can achieve cohesive effects on the whole palette.
A lot of the pro level camcorders do this. For Sony it's called slog-2 and slog-3. Here's a video showing what it looks like: https://vimeo.com/110595557
Footage shot in logarithmic color space looks extremely dull and grey until you apply a LUT (lookup table) to it. I'm not sure if it's exactly what the Author is doing, but it is interesting to me when you see footage that almost appears black & white. Then just applying some magical math to it, all of these vivid colors pop out!