Peak Light For PC Modules Accuracy?

I'm trying to work with some gain structure (for a change) and I notice that when a PC module's title-strip LED is showing an over, the module itself is not showing it within it's own metering...
 
Note tht it also shows overload (red) in the Inspector/CV modules as well.
 
For example, I'm seeing this while it goes into a Concrete Limiter which shows a 0 VU at the songs peak, yet the LED's go red... If my ears hear no noticable distortion do you think I should allow this and consider it a peak yet not an over? My final print has a -0.3 peak (after the CL)
 
Thanks gang... I know in the end to trust my ears, but I like to integrate my mind/understanding as well... ;-)
 
Keni
 

I have become much more careful with gain staging, especially when using the ProChannel.
 
If a clip LED lights up, I go back and tweak each module to reduce gain, or use the channel gain knob.  I have a screenset set up that shows the track view, with just the PC clipping light showing, just to keep an eye on it.  I can then check that particular ProChannel to track down the guilty module.
 
I take particular care if I'm using the Console Emulator - Craig Anderton has mentioned that any clipping in the PC can be "magnified" by the Console Emulation.

Its very likely you wont hear clipping in the PC due to X2's floating point audio engine. 

You may hear a module being overloaded though.