FCP7, Mountain Lion, color picker and color correction issues

I recently upgraded to a new Macbook Pro w/Retina display and Mountain Lion. I did a clean install of FCP7. The only issue I've run into so far is the color picker does not function properly - the copied color does not match the selected color. Similarly, the automatic white balance in FCP's color correction filter does not work correctly - white balances skew strangely. Anyone having a similar issue? These functions always worked on my previous Macbook Pro, operatng with Snow Leopard.