QUOTE(Fred Egan @ May 22 2008, 07:55 PM)

A real easy way to do this is to utilize the histogram on the back of the camera

You rattle off a shot or two and then check the histogram. You see that the dress is clipping/blowing out and then you dial down your exposure. I would suggest shooting in the RAW format if you do not already and shooting MANUAL. The sooner you do those 2 things the better your exposures will become sooner. You have to think FOR YOUR camera in tricky lighting/subject situations...as oppose to it thinking for you in Aperture Priority for example. But use that histogram in your camera

I don't think that would help in this case because the color of the light is so far off. The problem is that the quantity of
blue light in the image is clipping more than the quantity of green and red lights. That skews the entire equation, no matter what you do click-balancing in post. At the extreme example, consider lighting a scene with a completely red light. No other color information....just red. Is it possible to get a "good" image illuminated by a source that included no image in the non-red channels? No, of course not.
Here's a less extreme example. I went out into my foyer and snapped this image. The light source is tungsten and our walls are painted yellow, so the light falling on this white door is very, very yellow.

What does a yellow light mean? A yellow light means there's very little information in the blue channel. Simply put, there are not nearly as many blue photons hitting the sensor as there are green or red photons. As much as we want to abstract the issue away to "color temperatures" and things, it really all comes down to the number and wavelength of photons. So, the histogram for this image looks like this:

Notice how the red channel is clipped on the right there? That's what's flashing on the back of the camera. The red channel, and the red channel
only is overexposed on this image. The green channel is...fine, and the blue channel is severely underexposed.
So now let's click balance in RAW, and get this:

Which, as is obvious the historgram:

Is now "underexposed" by about 2/3 a stop.
Adjusted for that, it looks like this:


Regardless, clearly, just looking for clipping doesn't give you a good exposure, because the LCD will blink "overexposed!" even though it's only one channel that's over the top. Once it again, it all comes down to light.
And this is a very simplistic example where we're only looking at a white object. Now imagine looking at a scene with many different colors. Like a white dress, a black tux, and pink skin tones. Now you've got objects in the scene that reflect and absorb all different kinds of colors. So, click-balance (or AWB, or custom WB or whatever) to your heart's content, but if you're shooting the image with an off-color light....you're going to get off-color images.
That said, this
usually isn't a problem. Generally, the colors of light we encounter aren't so far off from medium white that a camera white balance adjustment is perceptible. But in this case, it was.
Really, it comes down to a numbers game. If the number of red photons reflected off the subject is so far different from the number of blue or green photons, the image cannot be "properly" rendered. That's the case in this image...the light was so blue, and so far outside the range of the other color channels that a correct color balance cannot be salvaged after the fact.