The IPS panel already on the iPad is really close to being optimal due to the nature...of well IPS panels.. They are known for their high color gamut to begin with I don't think you would be able to squeeze out a better picture..
Anyways, I suppose there's a way to do it.. And it would have to run as a daemon process in the background full-time to keep your new color profile running... The only downside is more memory being used up to keep it going in the background.