I understand about legal chroma for broadcast - not going past the boxes in the vectorscope ring. Can I take some liberties if I'm only going to DVD. I'm working on a concert video with highly saturated lighting and a lot of shots that have beams of light in them go way off the chart. But they look really good in my Sony PVM 8042Q monitor and I'd hate to compromise.
If you are checking them on a vectorscope or within your range checking on your NLE you should be ok. If anything DVDs are a bit less forgiving on highlights and blacks because they're more compressed than tape so you should avoid going nuts.