**Core Concept**
The Hardy-Weinberg principle is a fundamental concept in population genetics that describes how allele and genotype frequencies remain constant in a population under specific conditions. In this scenario, we're applying the Hardy-Weinberg principle to determine the frequency of colour-blind females in a population where colour blindness is inherited in an X-linked recessive pattern.

**Why the Correct Answer is Right**
Colour blindness is an X-linked recessive trait, meaning the gene responsible for colour blindness is located on the X chromosome. In females, who have two X chromosomes, the expression of colour blindness requires two copies of the mutated gene, one on each X chromosome. In males, who have one X and one Y chromosome, a single copy of the mutated gene is sufficient to express colour blindness. Given that the frequency of colour-blind males is 1 in 100, we can infer that the frequency of the mutated allele (let's denote it as "c") is relatively high. Using the Hardy-Weinberg principle, we can calculate the frequency of the mutated allele in females.

Let p be the frequency of the mutated allele (c) and q be the frequency of the normal allele (C). Since the population is in Hardy-Weinberg equilibrium, we can use the following equation: p = q = 0.5 (since the frequency of colour-blind males is 1 in 100). Now, we can calculate the frequency of colour-blind females (who have two copies of the mutated allele). The frequency of colour-blind females is given by p^2 (since they have two copies of the mutated allele).

**Why Each Wrong Option is Incorrect**
**Option A:** This option assumes that the frequency of colour-blind females is equal to the frequency of colour-blind males, which is incorrect since females have two X chromosomes and require two copies of the mutated gene to express colour blindness.

**Option B:** This option suggests that the frequency of colour-blind females is 1 in 100, which is incorrect since females require two copies of the mutated gene and the frequency of colour-blind males is only 1 in 100.

**Option C:** This option assumes that the frequency of colour-blind females is 0, which is incorrect since the frequency of the mutated allele (p) is not zero.

**Option D:** This option is not a viable option.

**Clinical Pearl / High-Yield Fact**
In X-linked recessive disorders, females are typically carriers of the mutated gene and have a 50% chance of passing the gene to their offspring. Males, on the other hand, express the disorder if they inherit a single copy of the mutated gene.

**Correct Answer:** B. 0.01.