Corona is using 'WideRGB' only as internal color space for rendering, not for output. Corona isn't sadly color-managed, post-process of framebuffer happens in sRGB color space only and that is also the only way to get 1:1 output into post-process applications (PS,AE,Nuke,etc...) by applying sRGB space.
I've requested it 20 times :- ). Good to see another request. Working with non-managed application is very painful if you have high-end monitor with wider gamut (forcing you to clamp down your own gamut).