The Auto Levels is designed to cope with very saturated colors. We didn't have any in our current composite, so I have prepared this test pattern, so you can see the effect. When supersaturated colors like these are keyed and composited, results tend to give you dark edges or colored fringes. The autolevels toggle is designed to cope with this. It trims the matte to shrink it down to get rid of these artificial edges. The autolevels toggle is over here, and it enables all the other three.
So, with it turned off, none of these have any effect at all. I turn the autolevels on, and you could see it got rid of the dark edges, but it has also introduced some discolorations in the Cyans and the Yellows. There you go! Also, if we look at the Alpha Channel, when I turn on the autolevels, I lose Opacity in the same Yellows and Cyans in the Alpha Channel. So, to guard against that, you turn on the autolevels, and if you want to protect the Yellows, you click the Yellow button.
So, that protects the Yellows from the autolevels setting. If you want to protect the Cyans, you turn on the Cyan button. With both of these toggles turned on, you have completely disabled the whole autolevels algorithm. It's the same as having it turned off entirely. So, in a composite, if you have those dark or colored fringes, try the autolevels button to see if it helps. More than likely, it'll help one part of the picture but ruin the rest of the composite. So, what you'll have to do is isolate the area that it helps and composite that separately from the rest of the picture.
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