color in fcp7 changes to crushed blacks and warm skin tones for some reason

So I have a MBP Retina, 2.6 GHZ, 16GB memory, 512 SSD. I have two external displays LG IPS LED ones connected via hdmi. For some strange reason, when I perform a given function or just randomly the color of my video becomes highly contrasted, and warm. When I first begin my project everything looks great, but say for example I go to Window>Arrange>Standard, the windows will orgainze themsleves as usual, but then the color will become drastically crushed (see before and after photos below) The image becomes heavily contrasted as well as very warm in the red spectrum. When I disconnect the monitor to see if it is an issue of the external display and just view FCP on my laptop, the images remain the same, crushed blacks and warm/redish skin tones. But everything looks fine, if I close the program, disconnect the external displays and then recconnect them again and open FCP 7 again. It will NOT do this if I stay on my laptop only, seems to only do it when I have either one or two external displays attached.

Not sure if anyone has come accross this yet, any clues? The first photo is how it normally looks, the second is with the strange color annomily.