PicturesToExe includes full colour management since Version 9.
-noicc - disable colour management and colour profiles of images (works as PTE 8).
-icc srgb - use sRGB colour space
-icc adobergb - use AdobeRGB colour space
-icc - use current monitor profile
-icc profilename.icc/icm - use custom colour profile which is located in same folder with EXE.