Try this variation:
fcpxtemplates.com/fxexchange/BroadcastSafeSL.zip
and let me know what you think about it. It uses a different approach to broadcast safe by using Levels and Saturation/Value. When you apply it to a clip, it may "clip" the signal to the limits... not generally what you want. You can move the values to move the signal levels within the bounds (and that includes > 1 for White and < 0 for Black... Balance as well.) The Value control will adjust the Brightness. The Value and Saturation controls will not affect the overall Black and White Points.
Also, use the Option key and drag on the values to make "fine" adjustments. All values can be keyframed if necessary.
This effect is just a general application of effects and can be driven to extremes for some unusual effects not related to "broadcast safe" (for example: high contrast B&W).
It should be applied after any color corrections.