Unfortunately, that anemone is defintely bleached (i believe it's a condy) but the picture above showing it shrinking isn't a bad thing; it's probably just expelling waste. I'd be more concerned about the bleached effect. I'm hoping you have it already under some high intensity lights (MH, PC's or VHO's), are feeding it things like silversides or krill, and acclimated it long enough. Has it been wandering around? If it's been staying around, anchored to the same rock as opposed to being disconnected/wandering around, then there's defintely a good chance you can bring it back. I would be worried if the mouth was open and gaping, but I can't really tell from the pic. In any case, Good luck and keep us posted!
Jamie