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The "working space" is the colour space a program uses internally. Lightroom always uses Pro Photo RGB, there's no choice. With Photoshop you can choose Working Space:
I'd recommend ProPhoto, if only because that's what LR uses, so it avoids any change of working space. I would also choose "Preserve..." in the options below, and check all the "Ask When..." options (so it warns you when something funny happens).
If you save in Photoshop, and then re-import into LR, and it looks different, then some colour space mismatch might have happened. The problem is likely to be in Photoshop (as there aren't any options in LR you can get wrong!) Make sure the Photoshop "Color Management Policies" are as I've got them above. It shouldn't matter what colour space the image is in when you import back into LR, so long as there's an embedded profile. The embedded profile merely indicates in what colour space the image is. LR takes note of the profile, and when you work on the image in Develop Module, it converts internally to ProPhoto RGB (but LR never alters files except metadata - if you import an sRGB jpeg then it stays sRGB - LR converts to ProPhoto RGB only for internal use).
When you save the image in Photoshop, if you want it in sRGB:
- either use Save for Web... (and make sure "Convert to sRGB" and "Embed profile" are checked)
- or use Edit... Convert to Profile (not Assign Profile) and then save.
Does that help?
Thank you very much for this information. I think I understand it a bit better now. My color settings were the same as yours except for the Working Space of RGB. (mine was sRGB)
I don't know if this makes a difference, but I wasn't reimporting the photo back into lightroom. I was just going to file>save in photoshop so it would stay linked to original photo in my catalog.
I guess what I am unclear about is...when you know that you need sRGB photos for uploading to a place like Blurb, do you edit the photo in Pro Photo, then Convert to Profile and then proof the photo in order to check for out of gamut colors &/or color shifts? It seems like a lot of extra work...