We present the results of an extended investigation performed on holographic reflection gratings recorded in blue sensitive polymer dispersed liquid crystals in view of a possible application in optical data-storage. The analysis has been performed by means of real-time spectroscopy during the polymerization process. The analysis of transmission spectra during the recording process showed a fast photopolymerization, resulting in the rapid formation of a reflection peak. Gratings characterized by high spatial frequency (> 7000 lines/mm), high diffraction efficiency (up to 50%) and large refractive index modulation (Delta n similar to 0.008) have been obtained. Unfortunately, the monomer conversion into a polymer network is generally characterized by a strong packing, with a consequent reduction in volume (polymerization shrinkage). This phenomenon induces a significant blue-shift of the reflected wavelength. With the aim of better understanding and possibly reducing the shrinkage, a new high-sensitive experimental technique has been developed to measure shrinkage effects in multi-component polymeric mixtures.