Managing “all” functions in DAX: ALL, ALLSELECTED ...
In this case, ALL is a filter parameter of CALCULATE. As such, it acts as a REMOVEFILTERS, not as an ALL. When CALCULATE evaluates the filter in the denominator, it finds ALL. ALL requires the removal of any filters from the expanded Sales table, which includes Product[Color]. Thus, the filter is removed but no result is ever returned to CALCULATE.
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