I think the TV footage look could be cool, it's like the film grain shader in DOD:S, I was so exited to play DOD:S in monochrome and have the film grain effect. Unfortunately, they only use it when you are dead.
It doesn't look to unrealistic to me, infact it looks more realistic. you are watching it on a screen after all, its not like you will ever get the colors to match the real thing, in order to do that you'd need real HDR and a real HDR screen. Thats the only way you'd ever get it to look real, regardless of shaders or graphics quality.
on a side note, HDR effects can be achived by clipping the bottom and top of your contrast by lowering brightness and then pushing up the contrast untill you get even cliping on top and bottom. This is basicaly what most games do anyway to get that effect since your monitor can't display real HDR anyway. It lacks the contrast ratio to display the full contrast of true HDR which is around 100,000:1 or something if I remember correctly.
I am aware that there is more to HDR like in Source and that, but it's mostly more to the rendering of transparency and that, not colors and contrast, that is basicaly the same as clipping the crap out of it.