I've used exported curves from photoshop to generate color correction LUTs, but actually just displaying the LUT in the screenshot, and then using the manipulated result to generate back a new LUT is much more flexible and pretty smart!
See e.g. section 24.2.3 here: http://http.developer.nvidia.com/GPUGems2/gpugems2_chapter24...
I've used exported curves from photoshop to generate color correction LUTs, but actually just displaying the LUT in the screenshot, and then using the manipulated result to generate back a new LUT is much more flexible and pretty smart!