My buddy Patrick Sheffield (a regular at the Apple FCP, Motion and Shake forums) created a set of plugins that color treat your footage in various ways. The classic TWO STRIP plugin that mimics the two-srtip color process of old films, and most recently seen in the early scenes of THE AVIATOR.
There is also the THREE STRIP and THREE STRIP EXTREME that make the colors very vibrant, and RICHER and CONVOLVE. The site has examples so head on over there and look.
Oh, and Capt Mike Mench (frequent Apple forum guy too, and the best amateur post guy I know) designed a Blowout Fixer in Shake to fix over exposed footage, and Patrick helped turn it into a plugin for FCP. That is available on the site as well.