The man page of jpgicc
says -c NUM Precalculates transform (0=Off, 1=Normal, 2=Hi-res, 3=LoRes) [defaults to 1].
I was not able to find more information about that option. To me it seems 1 is a trade-off between speed and quality. But to me, speed does not matter.
What does "Hi-res" mean and why should I prefer it over "Normal" (or why should I prefer "Normal" over "Hi-res")?
I must admit I'm not a person that cares much about color accuracy. If colors are different enough between text and background, and I can read the screen, I'm happy.
7 year old email chain about precalculations
The differences between no precalculations, normal, low-res and high-res is not just speed but can lead to flaws in the shadows:
littleCMS's Author's take on precalculations
In his .pdf tutorial the author states if there are only a few colors to transform then precalculations can be turned off all together: