Setting in XL2 helps, is to caliberate the EVF or colour setting in cam.

Ashok

The color bars are there so you can put them at the beginning of each of the tapes you shoot. That way, if the tapes are going to a post-production house or broadcast facility, they can calibrate their monitors to the color bars so the monitors show the same colors as what was shot.

Jonathan

I thought it might be for colour caliberation of the cam like knee, gamma setting