Hey Sean,
I believe that is true Bryopsis. A lot of times any kind of "fuzzy" or filamentous algae are called Bryopsis but I think that is the real stuff. In Algae A Problem Solver Guide Sprung says Rabbitfish, Diadema Urchin, Tuxedo Urchin, Mithraculus crabs, Elysia, Caliphylla mediterranea, Placida dendritica, P. kingstoni, P. viridis, and Limapontia capitata will eat it. Sprung also says it grows well when ammonia, nitrites, or nitrates are present.
HTH,
Kevin