Over the last 7 years, I've been asked about color grading underwater clips and what my settings are etc. Unfortunately the answer isn't as easy as giving some value. Each software works differently and their settings are not like a LUT table where you can just bring it up and plug it into another program.
Furthermore, each program has different ways of correcting color. In the last 5 years, color grading made a big jump in availability. Shake was a very powerful program but was dumped by Apple. Apple's Color was powerful but the interface was a bit rough, coming from Final Touch. And now it's dead and parts of it have been integrated in the FCX. Da Vinci Resolve has been an industry player but only recently has it been interested in the general market, releasing a free version that is limited to HD resolution. For those not familiar with nodal gui systems, the interface can be a bit daunting.
Basically there are many ways to color correct and there's no easy way to learn it. One simply has to learn how water affects colors and adjust to taste. Here is a short tutorial by Dave Reynolds of Realms Productions using AEFX. While it isn't comprehensive, it goes go over very basic concepts about underwater lighting. Again, don't try to copy but understand the concepts:
[vimeohd]32137186[/vimeohd]