The Nikon 5600 is an auto ISO and automatic exposure digicam. Your only manual overide option for exposure control is the +-2EV that you mentioned. Not the best options (very limited) for exposure control while shooting through water (ok for air). But I am still surprised that you are experiencing blowouts, even at -4.5EV setting on the manual controller attached to the DS 50.
My first suggestion is to confirm the manual controller settings and DS 50 settings:
http://www.ikelite.com/web_pages/mansenswitch.html
Be sure you have the set the controller to either DS 50 or "D" (depending on how new the controller is).
Also be sure to set the controller to "B" (or "P") to denote
if you have a preflash camera (sorry, not familiar with your camera, my assumption though is that the 5600 is a preflash camera).
The DS 50 has setting options in the back. Check to make sure that the DS 50 is set for TTL and not Manual. My assumption (not 100% positive) is that if the strobe is set to Manual, then regardless of the manual controller setting, you might get a "full dump" and subsequent image blowouts.
Now try this test:
Set your complete underwater rig up in a dimly lit room. Insure though that there is enough light in the room for your camera to lock in focus. Aim at a target (a plant?) around 24" from strobe to subject and also lens to subject. Does the Ike housing come with a flash blocker? If so, be sure to block the camera's onboard flash with it. Dial in -2 EV on your camera. Be sure to always aim the manual controller so that it only sees the (onboard) flash that it is taking "orders" from and never at the light emitted by the strobe it is controlling (in this case the DS 50). Set the manual controller to its lowest setting (-4.5). Install the diffuser on the DS 50 strobe. Take a picture. The resulting image hopefully will not be overexposed.
(the suggested manual controller EV setting of -4.5 in this test is only to insure minimal strobe output and that the manual controller is functioning as intended.......iow, I'm not implying that it is a starting point for actual use underwater )
If your image is still "blown out", contact Ike:
ike@ikelite.com
Ike may have some insights to share.
Also, while your system is still set up, you may also wish to try another land based test. Aim the rig and external strobe at a mirror. Depress the shutter to capture the mirror's image to confirm that the strobe is firing in sync with the shutter event. If the resulting image shows the DS 50 has fired, then the controller settings are correct and camera and strobe are in sync.
hth,
b