Well we both know that ICC is not the only way to describe color (just see OpenColorIO for on different example). Note that I don’t think we should use any form of ICC profile to communicate with the compositor (with maybe the exception of communicating the display profile of the ‘primary’ screen to an advanced application and even that could be done by defining a ‘display’ tag + something like colord to query the profile)
So I think we should define a set of tags, although I don’t think that hard coding the meaning of these (and number) is a good idea since that is one way to end up in the Windows situation (not flexible enough)
EDIT: Not communicating with ICC profiles does NOT mean that the compositor itself can’t implement the proposed workflow with LCMS internally (in whole or in part) it just means we need an other way (possibly out of bound of wayland, maybe in a spec document) to communicate the colorspace information. It also does NOT mean that the compositor isn’t color managed.
PS. Sorry for the double negatives in the edit