As for how you got the "effect": My guess is that you were too far away for the weak flash on the phone to do anything other than produce the red-eye, which means the phone still had to increase the exposure (probably via high ISO) to the level required by the available light anyway, blowing out the red in the red-eye in the process.

It's not difficult to fix manually with a paint program like GIMP, just view at 2:1 (200%), and use the smallest brush available.

ADDENDUM: The reason the flash was low-power in the first place may have been because the camera was metering (at least partially) on the bright white paper the girl is holding.

What caused "silver eye" instead of red eye, and what can I do about it?
I'm in my mid-20's, and so I am aiming at long-term growth with higher risk in my portfolio.  My financial adviser is showing me some investment allocations that put my money in some growth, mid, and value-retention locations.  He doesn't seem to be taking into the equation the fact that I am putting a huge percentage of my paycheck into my home.

I know home values fluctuate, but long term, it seems to be a pretty good way to at least retain value, and at best make a small return.  If I am already contributing so much to my "home" investment, why would I also invest in stocks or bonds with a low rate of return, even though they are considered a "safe" part of my portfolio?

Update: I think the question really has two parts.

1) How does owning a home fit into my financial portfolio?  Most seem to agree that at best it is a hedge against rent or dollar inflation, and at worst it should be viewed as a liability, and has no place alongside other real investments.

2) How should one view payments on a home mortgage?  How are they similar or different to investing in low-risk low-reward investments?
