While it doesn't work when you get to real low light, one thing you can do to help correct some of the pictures is to take a picture of something known to be white at the same depth. I use my dive slate for it.
Then when you get back shoreside, use software to adjust the colors of the white item. Record the settings the computer made and use them to adjust all your following pictures made at that depth. Its not perfect but you can make some amazing adjustments.
Reality check here, grainy, blurry, slow shutter, etc... are all problems with the technique. It does work nice in 30-40 foot depth or shallower in clear water with a bright sunny day. Works for things that don't move much, but forget about many fish.
I use this sometimes with my digital point and shoot, it gives some decent snapshots when I don't want to bother with all the gear. Also saves on batteries. Rough translation, when I'm playing tourist and taking pictures of my friends more than the environment.