I don't know who is the lady in red, with the fringe tiara. According to the caption of the picture, the gentleman accompanying her is Peder Wallenberg, businessman, architect, and co-founder of the foundation Carpe Vitam. Here is a larger picture:
Here are other guests with interesting jewels. I don't know who these ladies are, but if someone knows, please let us know!
(#1)
(#2) No tiara, but a nice sapphire and pearl necklace:
(#3)
(#4) Here is Kirstin Blixen-Finecke, who is one of Queen Silvia's ladies-in-waiting:
(#5) I think the lady in blue dress, on the right side of the picture, might be Christina von Schwerin, another lady-in-waiting (like Mrs Blixen-Finecke, she seems to be wearing a special badge pinned on her shoulder, besides the King's 70th birthday commemorative medal):