LR HSL/Color Starting Values by Depth

I know that we lose different parts of the light spectrum by depth as well as length of path the observed light has to travel. In the past, I've made use of a grey card place in the picture and/or look for a whitish/greyish sand/sand pan to set the white balance in LR Develop.

Is the loss of spectrum consistent enough that one could  have HUE settings for the different colours, starting with red, that would be a starting point for color correction instead of WB?

I'm wondering if settings in HSL/Color would provide more accuracy than WB temp/tint.

Thanks for any comments including give my head a smack because this doesn't make sense.

I know that we lose different parts of the light spectrum by depth as well as length of path the observed light has to travel. In the past, I've made use of a grey card place in the picture and/or look for a whitish/greyish sand/sand pan to set the white balance in LR Develop.
Is the loss of spectrum consistent enough that one could  have HUE settings for the different colours, starting with red, that would be a starting point for color correction instead of WB?
I'm wondering if settings in HSL/Color would provide more accuracy than WB temp/tint.
Thanks for any comments including give my head a smack because this doesn't make sense.

Thanks Interceptor121. I should have explained that these days I shoot with a Olympus E-PM1 and dual UFL-2 strobes. 

My question was more related to older pictures i have, from on an older camera, before I used strobes. It's also related to those shots where strobes are not practical.

White balance only works to a certain depth dependent on conditions this can be 0 to 12 maybe 15 meters
Hues are more for secondary corrections of casts and tones once the shot is balanced
They are not exclusive but complementary corrections

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The HSL sliders only apply to what is already there. If you push the white balance hard enough that blues become purple then the blue will be affected by the purple slider. You need to have the colours already present to work on them. 

I have found that the best way to use HSL is to get whatever part should be lit colourful and then adjust the often way to teal blue back to a nice blue. I often push the teal slider all the way to blue, because I feel that the transition from lit parts of the image to the blue often looks unnatural, especially on sandy bottoms. Also if you have problems with a specific colour sometimes it's worth considering to just remove it. If it has no big areas in the image, the grey will be overpowered by the colours around it.

I only sparingly use HSL to increase the saturation of reds. 

I have also found something that could be called "invisible strobe fall off". At the edges of your strobe lighting you can often recover a lot of colour. I assume that strobe power wasn't enough at those areas to overpower natural light, but there is still a fraction reflected to the camera, which the sensor sees. With careful use of masks/brushes you can often increase the area that looks lit by the strobe. Especially useful on wide angle images. Obviously it is better to get it right in camera, but we are not all professionals with thousands of dives of experience...

Did you shoot pictures in RAW format when you took pictures with your old camera without strobes? If so, you have a little more margin to recover light.

For your future pictures, make sure to:

1. use RAW file format
2. take a grey WB card underwater to be able to set the WB at the depth/time where you want to take natural light pictures.

To get the most WB adjustments, you'll need to process your RAW files in post processing. So to get the WB, take a shot of the WB card, that you will use in post-processing to adjust the colors. 

So in post processing (Camera RAW), you use this WB picture to get the Hue/Saturation parameters, you can then apply these parameters to all natural light RAW files taken at the same depth/time.

To process WB a bit further, there are options a bit more efficient than tweaking the HSL sliders individually, that you can apply once you have imported your white balanced RAW files in Photoshop

Copy your picture in 3 new layers, then apply to each of these layers the following adjustments: AutoTone, AutoColor, "Match Color +neutralize option".

Each of these options do some kind of color/tone correction, "optimizing" the color settings of the picture.
Depending on the picture, one of these options will give better results than the others, so hide the others and work with the best option. These auto settings are often too strong, the next step is to smoothen the effect by adjusting the transparency of the layer.