I wonder if the reason it bothered me so much was that it was displayed at 4K and 48fps, meaning that the picture was SO sharp, then some times that characters were a little out of place with the fake CG backgrounds, or that things looked sped up because they were so crystal clear and there was NO, ZERO, NONE of the slight motion blur/jitter that we've become accustomed to. Take the blue out, and it just seems too odd.
Another thing that didn't help was that at certain points, the camera swept back and forth between multiple action shots very quickly. Normally, at 24 fps, you would get the normal blur, with this, no blur and super crisp image, so it seemed a bit abrupt.
Again, some of these things will be "fixed" in the future with more 48 fps releases. More details in the CG work to mesh better, and slightly slower camera pans, etc, and 1/2 of the issues for me would be gone.
I suspect it has to do with how our brain processes images vs how it processes reality. That blurring may have mimicked something in the way we filter our the 'noise' in our field of view.
I agree there was a LOT going on in action scenes and all of it in crisp focus. To me, the cave action scene with the goblins was the most amazing 3D in the movie.
I found the 3D distracting when the switched between cameras when two characters were talking. I think there will be a lot of tweeking with pans cgi and camera angles going forward as directors figure out what works best.
I also don't get the critic's complaints that too much was changed or added in to the movie. Having consulted my walking encyclopedia of 'what was in The Hobbit' (aka my son), there was very little changed or added in. Maybe they're just annoyed that, unlike most movies where they cut most of the book content, everything included.