^ I think blown highlights are tempered (but not always possible) with luminosity, not commonly saturation. Blown highlights won't necessarily respond well to tweaking; if they're gone, they're gone: re-shoot the scene.
A scene with Velvia, for example, can be over-saturated with the indiscriminate use of a polariser (particularly awful with Velvia 100F where browns turn a ghastly red and greens shift to mush), and in doing so it will also flatten the illumination, introducing more problems. I strongly favour fitting the film to the scene; that is to say, one film will not be universally suitable for every scene; thus I freely inter change Provia 100F if I have reason to politely record the scene's colour's with not so much garish overtures v.i.z., Velvia.
I don't get blown highights or blocked shadows in any of my scenes because I've tweaked multi-spot metering and everything is accounted for: highs, mid-tones and lows. Water with blown highlights is a very common malaise; where it is involved and highlights are desired to be controlled, my trick is to baseline shift a meter reading from water and give —0.5 stop from an overall metered scene matrice. Colourimetrics and printing is thus very straightforward.
And now...it's Friday! The cameras are packed, the go-kart is primed and I'm ready to shoot through to make the best use of the remaining summer-like days of autumn. Bon voyage!