The Apple TV has a color balance feature now. You point your iPhone at the screen, it displays a bunch of colors and then adjusts the output of the Apple TV to display more accurate colors.

But it doesn’t direct you to make any changes to your TV’s settings, it just changes the output of the Apple TV to compensate. So it can’t be used to fix any issues when using other inputs.

It’s a cool feature, but I’d rather they built something that helps you calibrate your TV’s settings.