figured it out...
ok... I calibrated my monitors using a new software called i1ProfilerD2LionEdition.app, it's the beta software for the i1 Display 2 calibration device.
I made a 120 nit and a 220 nit calibration.
Selecting the 120nit calibration on "both" monitors ( I have 2 Dell 2405FPW's), having been calibrated separately, i started Color and didn't see the picture in the viewing window clearly.
when i select a standard calibration (made with another software...ColorEyes or Apple's Calibration inside System Preferences>Displays>Calibrate) ONLY on the SECONDARY monitor (not the MAIN)... and Color starts up and i can see the Viewer window just fine...
To get around this, i just leave open the Display box and once i start Color and get an image on both monitors, I just change the calibration to what i desire...in this case the 120nit calibration made with i1ProfilerD2LionEdition.app.
This works both with 10.7.5 and 10.8.2.
Hope this helps!!