HI Drachs
I had one for about a year, then I had to sell my tank because I left the Us and went back to Germany. During that time it grew quite well, from about 4 to 8 inches, but I kept it in a tank with only very peaceful tankmates and many non-photosynthetic corals. If you've got fishes that like to nip on corals or a pure SPS tank with ultra-high flow, then I don't see much of a chance for long term survival.
These animals hide during the day and only come out at night. It may take a few days (nights) to find the right spot, at least for mine. They still like to wander around every once in a while, so make sure that all pump intakes etc. are well covered.
Although they will not open in bright light, they may eventually adapt to slightly earlier feeding times, i.e. when the blue lights are still on.
As I did feed my non-photosynthetic corals several times during day and night, the basket star may have gotten some food, but it really went crazy when I fed the fishes larger pieces, e.g. frozen Artemia, Mysis, Krill. It is absolutely amazing what size of chunks basketstars can handle, this is completely different to feather stars, which only feed on very fine particles. I only target fed my basket star once or twice a week, just a few mysis into the arms, that's it.
Contrary to feather stars, I think that basket stars are actually easy to keep, given the right tank environment and pieceful tankmates.
Good luck
Jens