Haha, well that's what beta's are for, aren't they?
I've noticed the desaturation, it makes everything a lot brighter.
I've got no pics, but I'm about to take a vid of an animation I'm working on, I can grab a vid of this while I'm at it if you want.
edit: I have got a vid of it underwater and outside and comparisons between vanilla and your shader, though there's probably no point showing it until you get rid of the desaturation.
I've tried it on it's own and the desaturation makes the shaders effects almost unnoticeable except for the highlights on candles and that kinda stuff.
If you want to see how the desaturation looks I can post it up or PM you a link, but otherwise I wouldn't really bother.