You first will need those Avid codecs. Then, once installed, you need to convert what they have done into an FCP codec, like ProRes. Because FCP, while it will work with Avid codecs in the timeline, you cannot view them on an external monitor for correction. And Color will not accept DNxHD files...only FCP codecs.
You don't need to go BACK to the Avid do you? If so, that's a couple transcodes. I did this, but Avid directly out to ProRes, into Color, grade, export to FCP, output ProRes, AMA into Avid, transcode to DnxHD. Looked good.