Simon,
You might have said earlier, but what camera are you using?
This is actually a fairly good result of a nearly impossible composition. It is overexposed, but I am not sure you coudl properly expose this image with any set up.
It looks like you tried to capture a bright white "bleached?" coral, a black or very dark anemone, and the fish......the anemone coverd enough f your meter that the camera tried to expose the anemone @ 18% gray. Result....everything is over.
I am not sure how I would have captured this scene, and would be interested to hear from those who are more experienced at uw than I. that said here is what I would have done, give time:
1: get a meter reading of the Dark Anemone and stop down 2 steps to blacken the anemone.
or
2: Get a reading on the coral and step up 2 stops. (and bracket.)
In real life, I probably would have shot 15-20 images of this one scene, all at different settings to try and get one good one. It is an incredibly large range to try to capture in one shot.
Others???????????