This is typically caused when taking pictures indoors with artificial lighting (ie. not the sun). This is because of the different color temperature of the light versus sunlight. The camera can somewhat automatically adjust for this, but most cameras (including professional cameras) do not meter indoor lighting perfectly.
Often setting your white balance manually on the camer to Florescent or Incandecent depending on the light source will yield perfect or near perfect results. Some other light sources such as CFLs and LEDs have different light temperatures and you will need to manually adjust the light temperature. For instructions on doing this refer to pages 84 and 85 of the user manual. It is available here, if needed:
Coolpix S210 Manual
Hope this helps,
-Tor
Can you post an example of the pictures that you are taking that are overexposed? Perhaps it isn't clear to you, but in manual, YOU are responsible for correctly setting the shutter speed and aperture. It isn't exactly clear what you mean by the light meter being off, since the light meter doesn't actually do anything in manual mode.
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