In a medium saucepan heat the 1 tablespoon of butter until hot add shallots saute for 1 minute,deglaze with Champagne reduce for a minute, and add pineapple juice and bring to a boil. Reduce the heat to medium-low and simmer until the mixture is almost completely reduced, about 7 minutes. Add the cream, bring to a boil, and reduce by half, about 3 minutes. Turn the heat down to low and little by little whisk in the 1/2 cup of butter, 1 tablespoon at a time, adding each piece before the previous one has completely incorporated. Remove the pan from the heat periodically to prevent the sauce from getting too hot and breaking. Continue until all of the butter pieces has been added and the sauce coats the back of a spoon. Remove from heat, add the cheese, stir till melted. Season the sauce with 1/2 teaspoon of salt and 1/4 teaspoon of the white pepper. Keep the sauce warm until ready to serve.
Season the scallops on all sides with the remaining salt and freshly ground black pepper. Heat the olive oil in a large, 12-inch saute pan over medium-high heat. When the oil is hot, add the scallops and sear for 1-2 minutes on each side to brown them. Cook longer if prefered but should not be overcooked
To serve, place 3 scallops on each of 4 entree plates and spoon the Champagne sauce around them. Garnish with fresh chives or parsley and serve as appetizer.