After a while I have connected my old A1942 monitor to GVP Spectrum. Colours on the display are really PALE! Both, Spectrum and native A4000 AGA modes
If I connect the monitor directly to A4000 video port, the colours are normally bright (right most image).

Images from the left:
1. Spectrum 16bit mode, monitor connected to Spectrum VGA port.
2. A4000 AGA 8bit, passthrough via Spectrum, monitor connected to Spectrum VGA port.
3. A4000 AGA 8bit, monitor connected to A4000 video port.
Is there an explanation, why Spectrum "kills" colours? The problem doesn't seem to appear on LCD monitor.