You are an American in a British company. The company requires all your saved files to use the spelling "colour". You can't bear to look at anything other than "color" so you want emacs only to show you that spelling. At the same time you don't want to leave any evidence in the server or fail the mandatory British flyspell checking.
How could you do this do this color/colour transformation?
A hypothetical solution might be: maintain two buffers and when one is edited also update the other using the transformation. Allow viewing and editing the post-transformation one but wrapping all of your functions that would act on the current buffer to act on the other one instead.