No more updates are being applied for this. I recommend you check out Realistic Lighting by Pluto - 747823 - and Leviathan1753, even I'm using it now. The fxaa injector simply can not match it.... Here's the link...
http://skyrim.nexusmods.com/downloads/file.php?id=7654

But if you prefer mine.. Read on.

First of, if you want to use this, you will first need the FXAA Injector from this link.
http://www.skyrimnexus.com/downloads/file.php?id=131

All comparison screenshots are using the lower saturated file from that link.

I disabled Vignette in the new version. If this is not desired, simply change //#define USE_VIGNETTE, to #define USE_VIGNETTE. By removing // in front, you will re enable it.

//INSTALATION
Simply extract the file to the installation folder were the game .exe is located.

NOTE:
If you can't download from this site. I've set up a mirror to mediafire.
You can download it from there.

UPDATES:
Nov 16th 2011:
Added new version. See Changelog and screens.
I've also set up a mirror over at mediafire. It's called 'MediaFire New file version'

Nov 14th 2011 :
I've labeled the photo's Before/After to lessen confusion.
___________________________________________


Changelog:
v1.1
I've tweaked the color settings to add a touch more blue to the image.
The result is better color for distant mountain and snowy mountain exploration. While still keeping that ugly hue away.

I've also lowered the sharpening settings to give distant objects more depth of field.
While maintaining object sharpness close up.
See New/Old Screenshots for comparison.