I haven't found a clear explanation of how LR4 colour manages the second monitor. I thought it both were colour-managed until I read this note in LR4's help: "Lightroom does not color-manage the view of the Library module on the second monitor." (found in Using Photoshop Lightroom 4 / Workspace and setup / Displaying the Library on a second monitor). Not managing the library is not a problem, but it made me wonder what else, if anything, is not managed. For some context, both my monitors have been profiled and I'm running Windows7, 64-bit.
I appreciate if someone sheds some light on this topic.
Thanks,
JL