This may sound lengthy, but this is what I've done -- this only works on neutral eyes, though. In the case of my Cleo who has grey eyes, this works wonders: I take my elliptical tool and encircle both red eyes as accurately as I can, and then "copy" and paste it into a new file -- I grayscale this file, and then copy and paste it back. I don't use PSP, but Photoshop, so I'm not sure if this works the same. And if I don't de-select the original selection I encircled, when I paste it back, it pastes right into that selection. Generally, pupils are a dark color and this works really well. Cleo is forever showing up in my photos with red eyes, yet for all the photos I've posted of her -- you can't tell that I modified her eyes using this grayscale option. I find that trying to re-color often loses a lot of the natural shine that eyes have, so what I've been doing has much better results. See here for examples of Cleo's eyes that I've modified:

http://petoftheday.com/talk/showthre...highlight=cleo