It turns out that this is not a 'bug'.
But, as new hardware has been added to ColourSpace (not that any user can see the new 'madVR Envy' option as yet), the .ini file will initially be wrong.
This will (should!) self correct after ColourSpace has been opened and the various hardware options accessed for the first time, and ColourSpace then closed and re-opened.
Or, the user can delete the old .ini file, and a new one will be started automatically.
(The user will need to select different Hardware options, to have each selection remembered into the .ini file.)
Mob Boss at Light Illusion