Not exactly. (The name is quite deceiving.) Usually taxonomists use one of three possible sources when assigning a species name.
1.) Using the place of origin where the initial specimen was discovered.
2.) Using the name of either the person who discovered it, or the taxonomist who described it to science.
3.) And the most common, using a descriptive word. (Usually of Latin origin) and this is where I believe our use of the word florida fits for this species.
In researching the origins for myself I found this in all places but a plant website ( however the excerpt is still relevant as it explains what florida means in latin)
" I once thought Cornus florida meant that the Eastern dogwood was native to the state of Florida. In fact, "florida" means profusely flowering in Latin."
IMO I believe the reason "florida" was used for the Acropora was to describe the growth forms found in mature colonies.
I hope this helps.