A composition, method and kit for producing reversibly dyed soft contact lenses is disclosed. The contact lenses are submerged in saline solution and a dye is added to the saline solution, either directly or by means of a strip that has been impregnated with the dye. After a period of time, the lens absorbs the dye and can be removed from the solution and placed on the eye. Once the lens is illuminated with ultraviolet light, it will glow or fluoresce. An eye having the soft contact lens applied to a cornea thereof is examined under a luminescent radiation stored in the soft contact lens. The dyeing method does not utilize heat and thus is reversible. Soaking the lens in additional saline solution for a period of time will cause the dye to return to its non-dyed state. A stabilizing compound and a method of stabilization are also disclosed herein.