I think it is just because the sRGB colour system does desaturate colours when you get near maximum brightness, the strongest colours are only available at half brightness. You don't normally notice this because we are used to it, but with the contrast set to low, the overexposed sky causes a bigger step from the OK bits to the burned out bright white bits so you get more desaturation than normal.The exposure is well calculated when i pass through the shade, but the sky color gets grey instead of light blue. It looks desaturated, it doesn't look just lighter.