I thought some more about the problem of the blue sensor becoming saturated in the case of wide angle shots featuring the sunburst, and came to the conclusion that it should be largely fixable in software, since we "know" what color the water is supposed to be.
I reasoned, that, when the blue component is near saturation, the green component
which has not saturated yet can be used as an indicator of what the blue component should have been. We can then change the pixel to one of the appropriate hue.
As we near the actual sunburst, the red component will start increasing. So the red component can be used as an idiciator of how much to shift the hue towards white.
So, I came up with a short program which does this. Its too clunky for use by anyone by me right now (I need to learn how to write PS plugins), but here are some preliminary results. All processing was completely automatic:
before:

after:
