Yep, the coralline will cover anything that doesn't clean itself
I usually try not to leave the bubble algae last to long before the corraline has a chance to grow.
I have a few SPS were there is corraline growing on them, makes me wonder if the are still alive and growing.
Algae is pretty resilent stuff given light and food, now I don't know if it will kill it, but I have noticed that other algae has a hard time growing on the coralline, once established on the rock.
On a side note, I had something eat a big patch that I was going to get rid of, when I find out what happened I will share it.