I can't speak from experience because I only use my lights at night. Not that I wouldn't use them during the day, its just takes too long to recharge them on a single charger and I want them fresh for the night dive.
That being said, I would guess it would depend....Filters add back red that is lost as light passes through water. At about 20', most the red is lost from sunlight. If you are using artificial light, then depending on the birghtness of the light, in theory you would loose the benefit of the light if you were more than 10' away from your subject...thats 10' of water going from your light to your subject and 10' from your subject to your lens. Obviously water clarity may impact this distance as would the reflectiveness of your subject.
Even when I am diving in relatively shallow water, I shoot some video with/without the filter to see what it looks like in my monitor. The downside of the filter on natural light is it effectively drop your light level about an f-stop (so I have been told, I have not metered it) which means in low light conditions, you really need artificial lights.
One thing I am considering is rigging up some 'day' lights using UK Light Canons. They aren't as powerful as my regular lights, but during the day I am hoping they would be fine. And since I can use 'regular' batteries (alkaline or NiMH) I can have multiple sets ready for each dive. They are heavy, so I have having to go with strobe arms. I'll let you know how it works out.