Color Management in a Wayland World

Nothing is mentioned in any of the documentation I've been able to find and I think it's valid to ask who's doing color management. Wayland appears to be oblivious to the issue and pushing it into every client seems like a mistake.

I hear this issue is basically solved on the OSX display server and whatever comes after X needs to have parity here. The problem may be most obvious in fonts and antialiasing, but it's certainly not limited to it.