Yep there are things you can do

volks is cracking me up. If you put a lot of yellow/red over the top and bottom of the shot, it should even things out.

Take another photo...always works for me

Dump the family, so you don't need to keep the picture for memories?

I Try all my bag of tricks and i didn't even came close to making it half descent, sorry mate.

send it to Claudio... He's obsessed with fixing pictures..

I'll give it a shot, damn this is my job!

not a big problem i think i will give it a try when i'm home!

But the problem will be that there is no color information in the light...this should be painted afterwards...

I think the reason you got "yep" and yes theres things YOU can do is because this is your first post, and you have 0 entries....

heres something YOU can try. Isolate the areas that need fixing.
and a little code for color correction
BY GM (and drink) RC
in other words

Blue Yellow
Green Magenta
Red Cyan
these are opposites
go to Image>Adjustments>Color Balance
if you have too much red, slide the bar towards the cyan
too much yellow? slide it towards blue

this will prob not work in your case, but its worth a shot. But it may help someone here with color correction who didn't know that handy little trick. and like kooi said, you most likely will have to paint to get the color back.
Cheers

arghhhhhh tell them to run, run I tells ya, the flames, they are closing in fast

ok so I tried my suggestion to no avail.

I actually took the blue layer and copied and pasted into the red and yellow did some minor adjustments. now you have an 'OK' b&w. took me 5 minutes and it looks like it. but hey, I don't know you and I'm not getting paid

That's a good start Shaman, just get rid of them wavy burn lines, and then begin the recolorization process...

You know me, I will have to try to fix it" at least do a vector of the photo. stay tuned.

a little "painting", no photo miracle