Does actually work but settings above seem to suffer some a bit of colour saturation. How can I alter that?

Fantastic find btw, I been using some rather fun ones for Skyrim since release, i'm rather impressed it works in Sins. Think you may of found a whole new area of modding!

The color works fine on my laptop monitor.

You can try to edit the colorsaturationday/night under the [COLORCORRECTION] section to the value between -10 to 10.

(- value to desaturate and + value to saturate)

[COLORCORRECTION]
ColorSaturationDay=0
ColorSaturationNight=0

make sure day and night value is the same, or else it might not work (I guess since this game has no night and day settings), I'm not a pro enbseries editor.

btw, under the [EFFECT] section, make sure only Enablebloom=1, others leave it to 0.

[EFFECT]
EnableBloom=1            
EnableOcclusion=0        (make sure this one is 0, massive fps drop if you enable this)
EnableReflection=0       (no effect I guess because it is designed for GTA)
EnableMotionBlur=0      (no effect I guess because it is designed for GTA)
EnableWater=0            (no effect I guess because it is designed for GTA)
EnableShadow=0          (no effect I guess because it is designed for GTA)
DepthBias=0                (no effect I guess because it is designed for GTA)
EnableDepthOfField=0   (no effect I guess because it is designed for GTA)

ENB shouldn't have much effect performance wise as theres no real technical shadow rendering, it's mostly straight forward with no flashy effects like first/third person games. Also theres no DoF things either which are often causes of FPS drops in shooters using ENB (see Bokeh DoF for Skyrim as an example). 

Damned double post.

sample 1:

without ENB: http://snag.gy/IObmu.jpg

with ENB    : http://snag.gy/h9HOd.jpg

sample 2:

without ENB: http://snag.gy/5Zy5p.jpg

with ENB    : http://snag.gy/WB6iq.jpg

sample 3:

without ENB: http://snag.gy/ohayE.jpg

with ENB    : http://snag.gy/QCmmH.jpg

besides that It did add more blooms to it.

Ah but don't forget were not having to deal with things like detailed shadows, sunrays, reflection and lens effect type things. 

I think the key thing to note with this is that the ENB uploaded above it kind of like a basic modification with little actual alterations to the ENBs base (which is for the dated Oblivion engine) so it's infact a rather basic ENB in comparrison to newer versions. The flipside of this is it should have almost none compatibility issues with graphics card releases of the later ENB's which added features but required specific drivers to function (iirc 0.1132 releases onwards had this issue for the Skyrim releases) therefore having it useable with the Sins engine is rather good. I think a good idea would be for anyone wanting to toy with it, just experiment with the values out there, some effects won't work of course, Day/Night saturations etc as their aimed at an alternative engine, but the values for alot of others will.

I understand the trepidation with the FPS issues, but as an example, I did a test run of it on X4 mod on Rebellion other night, Doppleganger 4 player map, all graphics on highest blah blah. Never once did FPS drop below 50 mark, and that was when I was filling my unit caps and smashing Vasari fleets into dust (sidenote, no this is not a "I HAZ AWSUM PC" post, more a "it worked during testing" post kinda thing). 

I would highly suggest people experiment with the ENB, but also it might be worth checking to see if newer (not too new though) versions work, namely ones with the enbfx files etc, as it would be interesting to see if some post processing stuff could be done. It's even doable by people with no real experience with ENBs, just make a back up of any drivers it might replace and note down alteration changes. 

Question to OP, how did you discover this worked, and have you tried any newer ones as of yet? 

^ This