If you use the Dr. Brown’s Place-O-Matic plug-in for Photoshop and the Space in the Adobe Camera Raw dialog box doesn’t seem to be applied to the Photoshop document containing the Smart Objects generated by the plug-in, change your Color Settings in Photoshop (Edit > Color Settings) before using Dr. Brown’s Place-O-Matic. Dr. Brown’s Place-O-Matic sets up the Photoshop document using the current Color Settings.
I came across this when I selected ProPhoto RGB and 16 Bits/Channel in the Camera Raw dialog box, and noticed that the resulting Photoshop document was in sRGB. When I changed my Color Settings to use ProPhoto RGB, the Photoshop document created by Dr. Brown’s Place-O-Matic was created with ProPhoto RGB.
Dr. Brown’s Place-O-Matic is a free Photoshop plug-in available from the Tips and Techniques page on Russell Brown’s web site. It helps you create one image from two different conversions of the same camera raw format image, such as when you want to combine the very light and very dark parts of the same image. Because the plug-in imports two versions of a camera raw image as smart objects, you can alter the conversion settings at any time, which gives you a lot of flexibility.