According to Dr. Christoph R. Bauer (Bioimaging Center/Uni of Geneva and paper : GIT Imaging & Microscopy 4/2013, page 32-34 and see http://bioimaging.unige.ch), BIOLUMINESCENCE MICROSCOPY offers new possibilities in live cell imaging and can replace fluorescence microscopy if phototoxicity and photobleaching become critical. The detection of light occurs via chemical reaction of an enzyme (luciferase) with its substrate (luciferin). Only physiologically active and intact cells will produce light.
Fluorescence disadvantage:
dead or dying cells are expressing a very high autofluorescent signal (p.e. light induced free radicals ...)
These problems are NON-EXISTENT in BIOLUMINESCENCE!!