Why do I sometimes get pink highlights with Raw images and the Don clip colors option active?
With Raw images by default only those pixels are used that have valid values in all color channels. “Overexposed” pixels are not used. However, often these “overexposed” pixels contain usable information. The reason is that the color channels do not behave alike with respect to exposure. They generally saturate at different quantities of light. Especially the red channel seems to tolerate considerably more light without saturating. Thus if green and blue channel are saturated the red channel may still give good values. This only happens in the highlights causing them to look pink. The pink highlights are not a problem though. You can easily get them white with an appropriate white point setting.