I needed dump some data from a restored ibdata file on a production server. In order to do this, a second instance of mysql was started with a separate data directory. Here are the steps to make it happen.
1. Create a new data directory.
2. Install the base mysql server files.
3. Copy the ibdata file AND the database directory to /var/lib/mysql2.
4. Make sure mysql is the owner of the directory and the files.
5. Change to /var/lib/mysql2
6. In a screen session, start up a second instance of mysql and connect it to a socket.
If you have problems connecting to mysql, check the innodb_recovery.log file to see what errors you are getting.
7. Detach from the screen session.
8. While in /var/lib/mysql2, dump the database(s) you need.
9. Shut down the second instance of mysql.
That's it! You should have a dump file(s) with your data in it. How you use it from this point is up to you.