Modifying a Colour Space you are allowed to replace an existing one, based on the Output name field.
What happens is the following:
1. I Modify OLD
2. Save as NEW (OK)
3. Save as NEW again and reply yes: OLD is modified.

The following works (badly) also if OLD is a preset Colour Spaces .... something you can fix only by reinstalling CS.

Edit to say: Got it.
Will have to fix.

But, simply restarting ColourSpace fixes any 'Preset' that has been incorrectly changed.

Steve

Fixed in next release build.

Steve