Known developer franciscofrancob has recently developed an application called DisplayCotnrol, which lets you to calibrate colors of your Nexus 4. As the author said: "Every eye is different, every person has its color taste. Therefore here's the fresh new Nexus 4 Display Control application that lets you tune your IPS screen to achieve the best result for the best user experience."
The app offers the calibration of RGB Colors (Red,Blue,Green) and customize them your own way.
The app also supports Gamma interface for users with franco.kernel.
Changes saves every time you set them, so they persist reboot. If you want to use various settings, you can easily by saving into a profile.
The app is available for 2,5$ at Google Play Store. Please note the application needs root access. It works on any ROM or kernel as long as your device has root access.