Tragedy where frenzied exposure consumes princess (7,3)
I believe the answer is:
oedipus rex
'tragedy' is the definition.
(Oedipus Rex is an ancient Greek tragedy)
'frenzied exposure consumes princess' is the wordplay.
'frenzied' is an anagram indicator.
'consumes' means one lot of letters goes inside another.
'princess' becomes 'di' (Princess Diana).
'exposure' with letters rearranged gives 'oepusrex'.
'oepusrex' enclosing 'di' is 'OEDIPUS REX'.
'where' acts as a link.
(Other definitions for oedipus rex that I've seen before include "One with complex" , "Play" , "Drama by Sophocles" , "tragic hero" .)