How to work with ACES or DaVinci Wide Gamut timeline
Color Space Transform nodes (CST)
When you use Nobe OmniScope with DaVinci Resolve in Color Managed timeline and DaVinci Wide Gamut the preview will appear washed out. It's because Nobe OmniScope shows you the raw image data as is in the timeline. There's no display transform applied to the image at this stage yet.
DaVinci Wide Gamut in Color Managed timeline
In order to see the correct image in Nobe OmniScope we need to use 2 built-in OFX plugins called Color Space Transform, one before Nobe OmniScope Connect plugin, and one after:
Color Space Transform "Sandwitch"
Here are the settings that we should use in the node before Nobe OmniScope Connect:
DWG to Rec.709
And these are the settings to get back to DWG:
Rec.709 to DWG
DWG to Rec.709 3D LUT
If you prefer not to use the CST node in Resolve to go back and forth between DWG and Rec.709 there's another way. You can use a 3D LUT to go from DaVinci Wide Gamut to Rec.709 directly in OmniScope.