CompIcc sees sRGB as its document colour space. Obviously setting sRGB as monitors device colour space would result in no colour conversion for untagged content. Conversion from one ICC profile to the same ICC profile does not alter the colour numbers nor their interpretation.
Currently untagged content is the majority of graphics on the Linux desktop, at least from the perspective of a colour server. The sRGB == sRGB solution is a real hack to skip colour corrections. This hack is too easily in conflict with the desktop colour space. And the right way is still to tag window regions as already prematched. The later method is a clear path to omit any colour correction in the context of a colour server. After fiddling around in CompIcc to support setting sRGB as a monitor colour space I gave up on that idea. It is simply too fragile and difficult to implement.
The newly released CompIcc with its monitor hotplug support appears much more stable without the sRGB hack.