to prevent bleaching, just make sure to make an aquascape with different levels, introduce the corals on the sand bed and work them up the rocks. keep the MH about 8"-12" above the water line.
algae blooms are a water problem not a lighting problem. with an SPS tank you will need to keep to water condition pristine so you shouldn't have a problem.
14k phoenix is a great bulb, but you will probably have to use some kind of actinic supplement lighting, either t5 or PC. if you go with a 20k bulb such as a radium, you won't need supplements, but the growth might vary from a 14k bulb.