Hello Ocr,
I don't have a Canon S80, A610 actually.
But I can explain to you the reason and advantages of setting white balance instead of using a underwater white balance preset.
As i'm sure you're well aware, with increasing depth underwater, sunlight is absorbed, and the amount of visible light ... the colour spectrum is rapidly altered with increasing depth.
Because absorption is greater for long wavelengths (red end of the visible spectrum) than for short wavelengths (blue end of the visible spectrum), the colour spectrum is rapidly altered with increasing depth.
So how is this relevant to setting white balance manually?
If we can tell the camera which object in the room is white and supposed to come out white in the picture, the camera can calculate the difference between the current colour temperature of that object and the correct colour temperature of a white object. And then shift all colours by that difference.
In essence the camera is compensating for the properties of water as it relates to light absorption.
Why is manual w/b superior to the u/w white balance preset?
Simply because the u/w white balance preset is just that a preset, it cannot compensate or change for all the varying conditions that are present during a dive.
Changing depth, quality of light, or even the particular color of the water.
By setting manual white balance frequently, when changing depths or when the quality of light changes ( it was sunny, but now it's cloudy..) we have the advantage of having the right white balance for those specific conditions.
Bottom line, setting white balance manually is much much better than using the u/w preset, colors are more vibrant and look more natural.
Less post processing would generally be required.
Can't answer your last question as to what buttons would need to be used.
Why not just put the camera in the housing and experiment until you find it.
All you need to set white balance is a white object, doesn't have to be a dive slate.
Can be pieces of a styrofoam container, white plastic, whatever.