I have the same issue guys. My Mac mini 2014 is connected to a HDTV (Panasonic Plasma) via HDMI 1.4.
It happens on random, but only after waking from sleep (or deep sleep). I'd say 1 in a 20 wake-ups.
Since it's so darn unpredictable I'm hesitant to send it back for service (I don't think they will test it that extensively to catch the problem). They will probably blame it on the bad cable (I tested with a couple), TV or bad luck 🙂
What I noticed, and what is interesting is that when I go into color profiles and poke around (change to Adobe RGB for example), it switches back to normal. Rebooting and upluging HDMI cable does the trick as well.
It makes me wonder whether the color profiles that Mac assigns to the TV are corrupted.
Any advice would be appreciated guys. Photos below.