This is for the K-30, mind you - the K-01 could act differently.
Enable focus peaking,
then under the setting for 'Live View" (#4 on the K-30), you'll see a box for Bright/Dark Area. Check that one. When you go to shoot in Live View any potentially blown out shadows and highlights will flash either yellow or red.
Since the K-01 is all Live View, All the Time, I assume its probably worded a bit differently, but keep an eye for the "Bright/Dark Areas" checkbox.
EDIT: Page 190 of the K-01 manual, its under Live View > Rec. Mode 3 > Bright/Dark Areas, the same area will show grid and histogram options.
Last edited by Sagitta; 05-27-2013 at 09:48 PM.