I have the best lights money could buy, and yes i was using them, they were LED, in which i am not impressed with for $ 3000.00 US. I was using a flipped up red filter. I MWB with lights on, and the filter flipped up, I then tried to MWB with the filter off, then I MWB with lights off and filter up, then I tried auto white ballance, I guess what i am saying I have tried ever configuration that I know of to get the correct colors. I had a white slate zip tied to my fin for MWB, the only way i got good video, I had to keep MWB in different angles of the sun and it wasnt consistant at all. The camera is just not made for underwater use, That is if you want professonal video quality, my TRV 900 blows this camera away. Im not sure what L&M plans on doing with the housing, because it house more bugs in it the a roach motel. As far as Sipadan, there caint be any place in the world as good as Sipadan. Every single dive we saw at least 15 to 20 White tip sharks, thrashers, black tips, gray reef and 20 to 30 or even more turtles every dive, then you had all the macro stuff, then you had tons of jacks, swirling baracudas in a tornado. I have beern diving in Indonesia, Philppines, PNG, and of course all the boring caribbean stuff, I havnt found any place better then this.
I have seen great colour footage from the XR520 underwater... I'm not sure what is wrong with your system! It has to be a setup option somewhere in the camera. The difference between your footage and this one http://www.youtube.com/watch?v=L3scRbyhJ5A is huge! And this is in Sipidan as well, with the same camera, housing and lights! You've got to find out what is wrong with your system, it really looks to be VERY good! And your footage looks great if it was not green like that! 
I am a lowly Dive Store owner as well, have just got the same system, and totally understand how you must feel!
The good news is, there must be a way to fix your system! Maybe the dealer you got the system through, someone here, or even the guy who shot that video (his website is at the beginning) could help you go through your setup options? I've just got the camera and have only pool tested it so far so I think you need advice from someone a little more used to using this setup!
Check out the video, you'll see you can sort this prob out. 