Several users report that colors are fading light to dark repeatedly after the machine wakes from sleep. Apple has not acknowledged the issue formally, but the memo obtained by BGR suggests that its engineers are aware of it and working on a fix. Expect to see it in a forthcoming software update.
If this issue has been driving you batty, hold tight. We'll let you know when a software update is available. Speaking of the MacBook Air's display, it's quite a piece of work, as TechRestore recently discovered.