Photometric colors of late-type giants: theory versus observations
  To assess the current status in the theoretical modeling of the spectral properties of late-type giants, we provide a comparison of synthetic photometric colors of late-type giants (calculated with PHOENIX, MARCS and ATLAS model atmospheres) with observations, at [M/H]=0.0 and -2.0. Overall, there is a good agreement between observed and synthetic colors, and synthetic colors and published Teff-color relations, both at [M/H]=0.0 and -2.0. Deviations from the observed trends in Teff-color planes are generally within \pm 150K (or less) in the effective temperature range Teff=3500-4800K. Synthetic colors calculated with different stellar atmosphere models typically agree to ~100K, within a large range of effective temperatures and gravities. Some discrepancies are seen in the Teff-(B-V) plane below Teff~3800K at [M/H]=0.0, due to difficulties in reproducing the 'turn-off' to the bluer colors which is seen in the observed data at Teff~3600K. Note that at [M/H]=-2.0 effective temperatures given by the scale of Alonso et al. (1999) are generally lower than those resulting from other Teff-color relations based both on observed and synthetic colors. 
A. Kucinskas, P.H. Hauschildt, H.-G. Ludwig, I. Brott, V. Vansevicius,   L. Lindegren, T. Tanabe, F. Allard