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This from the Maine Coast Fisherman's Association:

This lobster was caught by Alex Todd of Chebeague Island, Maine.
A normal lobster gets its color by mixing yellow, blue, and red protein pigments. Through different genetic mutations you can get a blue, yellow, or red (uncooked) lobster. You can also get strange mixtures of those colors as well. This lobster probably has a genetic condition called Leucism which isn't a total loss of pigment (which would make it an albino) but instead a partial loss. This is why you can still see some hints of blue on the shell and color on the eyes.   

Here's what ABC news said:

Even though this fisherman made a lucky catch, he smartly threw the lobster back into the ocean — both because it was a rarity and because it was a female bearing eggs. "Even if it had been male, it’s an oddity enough that, why cook it for a $4 lobster?” Todd asked.