THX modes do not do much for grayscale, or proper brightness/contrast calibration, you still need to get those done. What THX mode does do is make certain menu items blanked that they feel you should not use (certain pq "enhancements") on some displays, and an actual engineer does the math on the color look up tables (LUTs) to ensure the display color decoding is working. For example, my GT30 had a problem with the LUT's in custom where you could not calibrate mid panel brightness and get accurate color, because the decoding was fracked. In the THX mode, which was locked on Mid panel brightness, the color performance was spectacular. Also had a flat 2.2 gamma.
That came from a good discussion with Gregg Loewen on THX modes and what they actually do. Often he uses that mode for his pro calibration, because he knows he should be starting with a accurate color decoding.