I won't disagree that there are some corals that are made to look over the top through pictures. However, I do think a couple of points could be made here to contribute to this discussion.
1) There was a statement that actinic light can't sustain reef life, but isn't it true that the primary spectrum of lighting needed for photosynthesis is in the blue color range? Also, I'm pretty sure that some of the more popular LFS (ones with crazy displays) keep those tanks under blue lighting pretty much exclusively.
2) The comments about most of corals we see on natural reefs being more neutral/bland colors is certainly true, but that doesn't mean that the multicolored corals you see sold by vendors are faked. As has already been pointed out, a lot of it depends on where the collecting is being done, and it also depends on what the collector is bringing in. If collectors know what sells, you can bet that's what they're looking for (Jason Fox, for example, does much of his own collecting and seeks out stuff that he knows will be popular). So, my point is that the colors vendors can show at these shows are natural (I mean, they aren't being injected into the corals, so they have to be naturally occurring under the right conditions, right?) and also attainable by hobbyists. I've seen plenty of tanks where hobbyists have grown out beautiful colonies of "named" corals, and they're awesome.
3) Anytime, "daylight" or "natural light" is brought up in these discussions, I'm always curious as to what people mean by those terms. IME there's a bit of variance among hobbyists as to what qualifies as "daylight."