I am having the same problem.
This is my first time using Color, and it is amazing, but the render is strange. I must be doing something wrong, my 17 minute short is over 24 hours into its render. It is definitely rendering extra material. Out of the 400 clips in the sequence, Color has rendered 250 or so clips, 2 of them with running times over 40 minutes. I have seen the slate show up on a few occasions, and I know that is not in the edit.
Any help on how to render only the needed footage would be greatly appreciated.