I’m wondering if there is some library (or maybe tutorial?) which can produce Instagram-like color tweaks for Bitmap/BitmapData objects in AS3.
ColorMatrix/ColorMatrixFilter will not be probably able to achieve such as results or yes?

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Yes indeed there is a great library ready made by Eugene Zatepyakin get it here https://github.com/inspirit/GPUImage
Also check Adobe Pixel Bender Exchange, there are lots of filters, you might be able find something there