Now that the bands have gone home and the ribbons have been cut, the artists of Alexandria's newly renovated Torpedo Factory Art Center are settling down to serious work.

With 85 studios, the center is unusual, a place where artists can work while learning from each other. The Torpedo Factory provides the perfect environment for artists as well as art lovers.

The sheer quantity and variety of art on display there overwhelms at first. There are weaving studios, printmaking workshops, metal smiths, enamelists and potters. But after a few moments of gazing around the seemingly endless corners and aisles, a visitor can see the quality of what is being created.

Anne Laddon's silk-screen designs are particularly engaging. Laddon injects everyday objects such as typewriters, cameras and napkin dispensers with fluorescent shades of blues, reds and yellows that result in slick, crisp images.

Sculptor Larry Morris is another artist doing top-notch work. He puts forth whimsical metal sculpture. Most of his figures are black and angular.

The Torpedo Factory should not be missed. Open everyday, 10 a.m. to 5 p.m., 105 N. Union St., Alexandria. For information, call 838-4565. Other Events:

* The Virginia Watercolor Society Juried Exhibition. Olin Hall Gallery, Roanoke College, Salem. For information, call Carol Freas, 703-380-2965.

* The Assembly Children's Theatre presents "Miniatures." White Oaks Elementary School, Burke. For information, call Anita Buhler, 455-1692.