Question / Help Elgato color issue

[Spiras Guardian]

Currently recording Dark Souls 2, and all of the in game red tones are appearing orange in my footage. It's very noticeable and driving me crazy... However, on my TV the colors are perfect. When I try to adjust the color settings in the Elgato software it also changes the colors on my TV, is it supposed to do this? I mean, is there an option to adjust colors/contrast etc within the Elgato software without affecting my TV's settings?

 

[Sapiens]

What program are you using to play back the file? Does this also happen in other media players like VLC or on a live stream? Does the OBS preview window reflect the color issue? Does it also happen in the Elgato software?