It depends on how far the data is above the threshold to start with, but having just said that, just take a look at the image; if there's no longer detail where you need to see it then you'll have to do something about it. If it's not an area of concern then don't worry about it.
I have clipped blacks in just about every image.
I might add that the irony of "Shadowman" asking for "shadow advice" has not been lost on me :P
Colin,
This example was very subtle. I had another image that was somewhat underexposed to start and when I applied the levels adjustment, the clipping was very prominent, covered about 60% of any black object. I discarded that edit and started from scratch again. I usually don't review my edits in this manner, sounds like a good practice though. Glad to know I am not doing more harm than good.
Thanks
I usually care less about loss of shadow detail than I do of clipped highlights.
I think it is just the way the human eye works; we have problems when we look at great areas of pure while where highlight details have been lost, but we have no issue when we look at areas of shadows that are very dark, if not black.
i tend to go the other regarding shadows, yes highlights are very-very important, but having started out pursuing art and painting as an form of expression, I would always attempt to create reflected light and cast shadows to create the illusion of 3 dimensional form. As you stated, in photography-subtle changes of light i shadow are sometimes overlooked or ignored. The only problem with this form of shadow expression in photography is that it tends to look like noise rather than shades of light.
John, I don't use Adobe Camera Raw but I notice at the bottom of your screen capture, below the middle of the image, that the file is listed as an 8 bit TIF. Were you editing the file as an 8 bit TIF or, convert to that at some point?
I don't use Photoshop Elements either so I might be missing something here if it doesn't handle 16 bit files!
In ACR (PSE 10 at least), below the image you have the option to select either 8 bits or 16 bit. Do your initial editing in ACR and 'Open' into the main editing space as 16bit.
You cannot use the tools in the tabs, but you do have access to them in the Enhance menu at the top. Given you can use the Quick Selection tool, this allows you to have selective processing. It may be destructive editing (no layers until you convert to 8bit), but not too shabby.
Graham