I mean that the hilight information is clipped. This doesn't mean that the image is overexposed. It simply means that the contrast range within the composition exceeds the dynamic range of the sensor. You could expose to avoid hilight clipping, but then the image would actually be UNDERexposed and less acceptable esthetically as a whole.
For my stills workflow, I typically expose for the most pleasing overall image, having lit to maintain shadow detail and bracket for the hilights, which I layer in later. The end results.... well, check them out for yourself if you like.
