I've had a Gigantea for 18 days now under 8 x 39w HO T5's. It's doing brilliantly. Has never shown any signs of stress. It hasn't lost any colour on the tentacles whatsoever, and underneath is slowly turning darker (tannish....it was absolutely white before). As I understand it, that's a good sign.
As I've listened to the advice of other, more experienced anemone keepers, I've grown to understand that, while lighting is very important, flow is equally important.
Based on my little experience so far (so take that with a grain of salt), I believe Gigantea's CAN be kept under HO T5's. But there are so many other factors going into it as well.
Good luck.