Color space and profiles clarifications

Does FCPX consider the embedded color profile of my clips ?
What is the default color space of FCPX projects ? (if any)
Can I select a specific color profile for my projects ?
My clips (according to after effect_cs6>interpret footage>color management) have this color profile embedded: HDTV (Rec. 709) Y'CbCr, but if I check out the same clip once transcoded to prores422 by FCPX there is no color profile anymore. What's goin on ?
I come from the photography world and we consider color profiles very important, what should I know about them when working with video ?
Thanks a lot

Thanks TOm, what do you mean internally ? In AE I can select a color space from a long list for my projects while FCPX discard the color profiles from the imported clips... how can it even manage them ?
Thanks

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    Van-Paul wrote:
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