What is the correct translation of Ephe 5:13?

A good literal translation of Eph 5:13 is provided by the BLB:

But everything being exposed by the light is made visible, for everything becoming visible is light.

The only (slightly) tricky word is the verb ἐλέγχω (elegcho) which is highlighted above. According to BDB, the meaning of this word in Eph 5:13 is:

to scrutinize or examine carefully, bring to light, expose, eg, John 3:20, Eph 5:11, 13, Titus 2:15.

(For other shades of meaning see BDAG for details.)

Thus, Paul appears to be saying that the best way to expose evil is to expose it to the light of truth.

Some the OP's translations appear to be very free and somewhat interpretive.

Note that in this verse, Paul is using "light" as a metaphor for information and truth. That is, what is visible is known by being exposed to the light. Conversely, what can be seen/understood adds to knowledge by providing more information/truth.

Thus, the two halves of the verse are uttering the same truth in different ways using a rhetorical flourish.

It simply means that just as light chases out all darkness, Christ exposes all evil. We understand meaning not by digging into the English or Greek meanings (man's language - 1 Co 2:13), but by understanding the language of the Spirit (God's word).

Paul uses a basic, common, temporal example of light exposing darkness to make his point. Any reader can understand this w/o going to the Greek language, just keep reading. They were "darkness", but now are of the "light" (5:8). Christ is light of the world (Jn 9:5) and was the Word of light (Jn 1:1-5). They should "Look carefully how you walk" (5:15) because darkness is all around (5:16). You do it by "understanding the will of the Lord" (5:17).

However, by the manifestation of the light all these things are censured and also discriminated against by the manifestation of the same light. Ephesians 5:13 A personal interpretation of the version: LTT, Literal Bible of the Traditional Text is a rigorously literal and accurate translation of the Traditional Text (TT) into Portuguese

I understand that Ephesians 5:13 alludes to the same concept described in John 3:20-21 and 1 Timothy 5:20

For everyone who does evil hates the light and does not approach the light, lest his deeds be exposed. But he that doeth the truth cometh to the light, that in like manner his works wrought in God may be manifested. John 3:20-21: A personal interpretation of the version: Interlinear Greek Spanish from the Nestle-Aland Master Text 27 A literal word-for-word translation into Spanish GALEED 2009 -RCB

As for those who live in the practice of sin, rebuke them in the presence of all, so that others, likewise, are filled with fear. 1 Timothy 5:20 A personal interpretation of the version: An achievement of the Bible Society Ibero American from Brazil and Abba Press Editora. King James Bible Updated (KJA) The KJV Update Project.

The ESV Translation

But all things that are exposed are made manifest by the light, for whatever makes manifest is light.
τὰ δὲ πάντα ἐλεγχόμενα ὑπὸ τοῦ φωτὸς φανεροῦται πᾶν γάρ τό φανερούμενον φῶς ἐστίν

The Literal Composition
The verse has been composed using 4 verbs to divide the statement in two parts each with a pair of verbs:

Part 1 present passive participle + present passive indicative 
5:13A: ἐλεγχόμενα                   φανεροῦται 
5:13A: being exposed                is made visible

Part 2 present passive participle + present active indicative
5:13B: φανερούμενον                 ἐστιν    
5:13B: becoming visible             is

Each pair begins with a participle as present passive and ends in the present indicative. While the first three are passive, the fourth ends the statement in the active voice.

Each part describes a role of light, first as genitive the light. Then as nominative light:

5:13A: being exposed by the light - is made visible
5:13B: becoming visible           - light is

Each part begins with a form of all:

5:13A: τὰ δὲ πάντα [but all things]
5:13B: πᾶν γάρ [for all things]

The first part speaks to what light does to everything; the second speaks of what light is. Therefore, the singular πᾶν, refers to everything except light.

Here is how I would understand the two parts:

5:13A: but everything being exposed by the light is being made visible
5:13B: for everything (but the light) becoming visible is light

As the active φῶς ἐστιν, light is has been placed at the end, word order suggests the three preceding actions bring about the active, light is. In this case what has been exposed by the light and has been made visible becomes light, but all which became visible are not to be equated as being the light.

Finally, the statement begins using terms written as plural and ends with singular:

Plural: but everything being exposed
Singular: by the light is being made visible for everything (but the light) becoming visible is light

Effectively Paul has composed a statement with two singular types of light. One is the light. The other is everything other than the light which is exposed and having been made visible becomes light. The question is what is the second type of light which is singular and has become visible as a result of everything being made visible by the light?

The Meaning
The message in verse 5:13 is similar to that of verse 5:8 (singular terms in verse 8 are in bold):

5:8A: For you were once darkness - but now you are light in the Lord
5:13A: but everything being exposed by the light - is being made visible

5:13B: for everything (but light) becoming visible is light
5:8B: (since you are light in the Lord) Walk as children of light

Light, in the Lord, and darkness are singular. The plural you was in the singular darkness and are now in the singular light in which they are to walk. The instruction to walk as children of light allows us to use our own condition as believers walking in light while remaining in the world:

When you walk as children of light,
[Just as you were once in darkness] everything being exposed by the light is being made visible
[Just as you are light in the Lord] they are being made visible as light.

Summary
Chapter 5 begins with an exhortation to be imitators of God and to walk in love as Christ loved us. Paul then shifts to list things to be avoided, because those doing these have no inheritance in the kingdom of Christ and God. ¹ At that point Paul gives what amounts to a summary instruction to the Church - for at one time you were darkness, but now you are light in the Lord. Walk as children of light.

The key to connecting 5:8 and 5:13 is verse 11:

Take no part in the unfruitful works of darkness, but instead expose them. (5:11)

When believers walk as children of the light, in the Lord, they expose the unfruitful works of darkness.

The individual who recognizes darkness within and turns to the light becomes a child of light in the Lord. But there is no individuality or uniqueness of a child of light; all are children of light in the Lord. The logic of verse 5:13 follows the same sequence. The difference between the two verses is children of light in the Lord are to be walking as children of light.

One could picture the Church as a flashlight of true light, which is light in the Lord. Wherever that light shines on a different face of darkness it exposes darkness for what it really is, darkness. Exposed darkness is a type of light, because in the light it's true nature will be seen: darkness.

1. The expression kingdom of Christ and God not only places Christ first, it is composed as a TSKS statement. Meaning the kingdom of one: Christ and God. In terms of all of Paul's letters, the instruction to be imitators of God recalls a similar instruction, Be imitators of me, as I am of Christ (1 Corinthians 11:1; also 1 Thessalonians 1:6 which uses Lord). Therefore the Pauline corpus as a whole speaks both of a kingdom of one: Christ and God, and of believers being imitators of one: Christ (or Lord) and God.

A bit of meditation on the power of God's word to illuminate truth clarifies the subtle nuances of the different wording of Eph 5:13. The key seems to be the word "all". Also a reading of the context surrounding vs 13 in any translation, shows that this discussion is pointing to the clarity of the truth of God's word being able to assist a follower of Christ to discern between unfruitful habits that originate in the hearts of the unenlightened, and exposes the enmity between the fruitage of "the light" and of "the darkness" encouraging Christians to, as vs 11,12 KJV tell us, "11 have no fellowship with the unfruitful works of darkness, but rather reprove them. 12 For it is a shame even to speak of those things which are done of them in secret." Please note the wording of Heb 4:12 as noted in The New International version, " For the word of God is living and active. Sharper than any double-edged sword, it penetrates even to dividing of soul and spirit, joints and marrow; it judges the thoughts and attitudes of the heart. Nothing in all creation is hidden from God's sight. Everything is uncovered and laid bare before the eyes of him to whom we must give account" So each person has free will to choose their course of conduct, but God has given all humans access to, as 2 Tim 1:13 ASV says, a ".....pattern of sound words which thou hast heard from me, in faith and love which is in Christ Jesus." which by adopting as our own standard of conduct enlightens our path that leads to eternal life.

The difference is the consequence of interpreting the participle φανερουμενον "being made manifest" as either passive or middle (middle: themselves make manifest). The word form is passive, but sometimes passive form also covers the middle. Majority of versions are taking it passive: made manifest, illuminated. WEB and NHEB: treats it as active, as in whatever reveals others is light. KJV seemingly middle. I think the word light is simply used as a simplified adjective bright G5460 φωτεινός photeinos meaning full of light. Cf Luke 11:34 when your eye is good, your whole body is also full of light; but when it is bad, your body also is full of darkness. The word should be treated as passive.

So, the meaning in most translations should be: which has beeen made manifested, is light, as it brightens others as a lamp acting as light. BSB has put it nicely for everything that is illuminated becomes a light itself.

Word Studies Vincent comments:

Whatsoever doth make manifest is light [παν το φανερουμενον φως εστιν] Wrong. The A. V. renders doth make manifest, as in the middle voice, but the verb is in the passive voice. It occurs nearly fifty times in the New Testament, and never as middle. Hence, RV., correctly, everything that is made manifest.

Alford:

13.] but (opposition to τὰ κρυφῆ γιν.) all things (not only, all the κρυφῆ γινόμενα, as Ellic. after Jer. al.: the Apostle is treating of the general detecting power of light, as is evident by the resumption of the πᾶν in the next clause) being reproved, are made manifest by the light: for every thing which is made manifest is light (the meaning being, ‘the light of your Christian life, which will be by your reproof shed upon these deeds of darkness, will bring them out of the category of darkness into light’ (ἐπειδὰν φανερωθῇ, γίνεται φῶς, Chr.). They themselves were thus once darkness,’ but having been ‘reproved’ by God’s Spirit, had become ‘light in the Lord.’ There is in reality no difficulty, nor any occasion for a long note here. The only matters to be insisted on are, 1) ὑπὸ τοῦ φωτός belongs to φανεροῦται, not to ἐλεγχόμενα: for it is not the fact of φανεροῦται that he is insisting on, but the fact that if they reproved the works of darkness, these would become no longer works of darkness, but would be ὑπὸ τοῦ φωτὸς φανερούμενα. And 2) φανερούμενον is passive, not middle, in which sense it is never used in N. T.; ‘every thing which is made manifest, is no longer darkness, but light: and thus you will be, not compromised to these works of darkness, but making an inroad upon the territory of darkness with the ὅπλα τοῦ φωτός.’ And thus the context leads on easily and naturally to the next verse. The objection to this (Eadie) that ‘light does not always exercise this transforming influence, for the devil and all the wicked are themselves condemned by the light, without becoming themselves light,’ is null, being founded on misapprehension of the φῶς ἐστιν. Objectively taken, it is universally true: every thing shone upon IS LIGHT. Whether this tend to condemnation or otherwise, depends just on whether the transforming influence takes place. The key-text to this is Joh 3:20, πᾶς γὰρ ὁ φαῦλα πράσσων μισεῖ τὸ φῶς, κ. οὐκ ἔρχεται πρὸς τὸ φῶς, ἵνα μὴ ἐλεγχθῇ τὰ ἔργα αὐτοῦ,—His works being thus brought into the light,—made light, and he being thus put to shame. Notice also φανερωθῇ in the next verse, which is the desire of him who ποιεῖ τὴν ἀλήθειαν. The E. V. is doubly wrong—1) in ‘all things that are reproved’ (π. τὰ ἐλεγχόμενα): 2) in ‘whatsoever doth make manifest is light’ (πᾶν τὸ φανεροῦν): besides that such a proposition has absolutely no meaning in the context. The meaning is discussed at length in Harl., Eadie, who however fall into the error of rendering φανερούμενον active (not middle),—Stier, Ellicott,—and best of all, Meyer)

Eadie:

πᾶν γὰρ τὸ φανερούμενον φῶς ἐστιν. Πᾶν τό. Winer, § 18, 4. The meaning depends greatly on this-whether φανερούμενον be taken in a middle or passive sense. Many prefer the passive sense, which is certainly the prevailing one in the New Testament, and occurs in the previous clause. The exposition of Olshausen, Stier, Ellicott, and Alford is—“whatever is made manifest is light”—“all things illuminated by the light are themselves light.” Well may Olshausen add—“this idea has somewhat strange in it,” for he is compelled to admit “that light does not always exercise this transforming influence, for the devil and all the wicked are reproved by the light, without becoming themselves light.” Alford calls this objection “null,” as being a misapprehension of φῶς ἐστι, but φῶς in his exegesis changes its meaning from the previous verse. This opinion of Olshausen is virtually that of the Greek patristic expositors, who are followed by Peter Lombard. Theophylact says-ἐπειδὰν δὲ φανερωθῇ, γίνεται φῶς. Harless renders, “what has been revealed is no longer a hidden work of darkness: it is light.” The view of Röell, Robinson, and Wilke is not dissimilar. Thus also Ellicott—“becomes light, as of the nature of light.” A dark object suddenly illumined may indeed be said to be all light, because it is surrounded with light, and this is the notion of Bretschneider. But if this be the view, it seems to make the apostle use a tautology, “whatever is revealed, is enlightened;” unless you understand the apostle to say, that by such a process they themselves who were once darkness become light. De Wette's explanation of the same rendering is-without φῶς there is no φανερούμενον, and where there is φανερούμενον there is light. But the apostle doe s not utter such a truism-where everything is manifested there is light. Piscator's hypothesis is equally baseless—“whatever is manifested is light, that is, is manifested by the light.” The passive meaning may be adopted, with the proviso that the apostle does not say whether the light be for conversion or condemnation. But while this view may thus be grammatically defended, still we feel as if the context led us to take the last clause as a reason of the statement contained in the first. Thus, some prefer, with Beza, Calvin, Vatablus, Grotius, Rollock, Zanchius, Morus, Wahl, Turner, and the Peschito, to give the participle a reflexive or medial signification. Meyer affirms that φανεροῦμαι is always passive, but the passive may have a medial signification, as it seems to have sometimes in the New Testament. Mar 16:12; Joh 1:31; Joh 9:3; 2Co 4:10-11; Jelf, § 367, 2. Olshausen takes up the exegesis of Grotius, which is also that of Bodius and Dickson—“for the light is the element that makes all clear,” and then argues grammatically against such a rendering. But according to the accurate position of subject and predicate, the meaning is—“whatever makes manifest or renders apparent, is light.” Such manifestation is the nature and function of light. These clandestine sins, when reproved, are disclosed by the light so cast upon them, for it belongs to light to make such disclosures. The apostle urges his readers to reprove such sins, which, though done in secret, will and must be exposed; yea, all of them being reproved, are shone upon by the light-that light which radiates from Christianity. And this power of unveiling in Christianity is properly called “light,” for whatever causes such things to disclose themselves is of the essence of light. Such is a natural and simple view of the verse. See Lücke-Commentar, Joh 3:21, vol. i. p. 550, 3rd ed.