Its the LED stage lighting. As far as I know there is nothing you can do about it except buy a camera that doesn't have a CMOS sensor in it.
It has something to do with the light filters inherent in just about every modern camera out there.
Heres a thread from someone with a Canon grumbling about it.
Basically the sensor is divided into bits where one part picks up blue, one part red, and two (I think) green. What you see in your end photo is actually the sensor mixing those bits together to render the color as it should be.
The problem is that LED stage lighting is pure red, pure blue, etc, so you wind up 'losing' up to half to three quarters of the data you'd get under normal lighting, and you wind up with the results you see there.
You can see the effect in this shot of mine from the LED lights in the window (and to a lesser extent the OPEN sign).
There really isn't much you can do about it except use an old CCD camera if you're going in to shoot stage lighting.
EDIT II: I'm not sure if the K5-IIs would do this, since the moire filter is removed. it could maybe remove the LED effect as well? I somehow doubt it though...
Last edited by Sagitta; 07-02-2013 at 10:42 PM.